Legal Definitions - voidable promise

A voidable promise is a commitment or agreement that one of the parties involved has the legal right to cancel or invalidate. Unlike a "void" promise, which is invalid from the very beginning, a voidable promise is considered valid and enforceable until the party with the right to cancel chooses to do so. This right to cancel often arises due to circumstances such as fraud, misrepresentation, duress, undue influence, or if one of the parties lacked the legal capacity to enter into the agreement (for instance, being a minor or having a severe mental impairment).

• Imagine a 16-year-old high school student signs a contract to purchase an expensive, custom-built gaming computer, agreeing to monthly payments over two years. In most jurisdictions, a contract entered into by a minor is voidable by the minor. This means the student can later choose to cancel the contract and return the computer, even if they initially agreed to the terms. The computer store, however, cannot unilaterally cancel the contract simply because the student is a minor; it is only the minor who has the option to void the promise.

• Consider a small business owner who promises to buy a specific piece of commercial property after the seller falsely assures them that the property's zoning allows for a particular type of retail store. If the buyer later discovers that the zoning actually prohibits their intended use, and the seller knew this information but lied, the buyer's promise to purchase the property is voidable. The buyer can choose to cancel the purchase agreement due to the seller's fraudulent misrepresentation, rather than being forced to go through with a deal based on false pretenses.

• Suppose an elderly individual, who relies heavily on a caregiver for daily needs, promises to transfer ownership of their valuable antique collection to the caregiver. If it can be proven that the caregiver used their position of trust and the elderly person's vulnerability to pressure them into making this promise against their true wishes, the promise to transfer the collection is voidable. The elderly individual, or their legal representative, could then take action to invalidate the promise and prevent the transfer, as it was made under undue influence rather than genuine consent.