Such a contract is normally voidable by a party who does not wish to follow through with it.
Voidable Contract: A formal agreement between two parties that is voidable can become unenforceable for a variety of legal reasons, such as: failure to reveal a crucial truth by one or both parties. a blunder, false statement, or fraud. excessive pressure or coercion.
A contract involving a minor is an illustration of one that is voidable. Although minors are able to sign contracts, they are also free to choose to break them without facing any consequences.
fraud, deception, misrepresentation, and coercion. A contract may be voidable if permission was obtained for it in one of several dubious methods. The party who was the victim of unfairness has the right to revoke contracts that were made as a result of force, threats, lies, or inappropriate influence.
What are the effects of a contract that can be voided?
If a party to a voidable contract has received anything from another party under that contract, that party must return that thing, to the extent possible, to the person from whom it was obtained.
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