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LSDefine
Simple English definitions for legal terms
voidable agreement
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A quick definition of voidable agreement:
A voidable agreement is a type of contract that can be cancelled or voided by one or both parties involved. This means that the agreement is not necessarily invalid, but it can be undone if certain conditions are met. For example, if one party was coerced or misled into signing the agreement, they may have the option to void it. It is important to understand the terms of a contract before signing it to avoid any potential issues with voidability.
A more thorough explanation:
A voidable agreement is a type of contract that can be legally enforced, but has the option to be cancelled or voided by one or both parties involved. This means that the agreement is valid until one of the parties decides to cancel it.
For example, if a person signs a contract to buy a car, but later discovers that the car has a major defect that was not disclosed, they may have the option to void the contract and get their money back.
Another example of a voidable agreement is when a person enters into a contract under duress or coercion. In this case, the agreement may be voided if the person can prove that they were forced into signing the contract.
Overall, a voidable agreement is a contract that can be cancelled or voided by one or both parties involved, but is legally enforceable until it is cancelled.