Describe Void and Voidable Contracts: Unconscionability

Void and Voidable Contracts
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Void and Voidable Contracts
Introduction
Linsangan, (2011) defines a voidable contract as that one that can be annulled even though its contents have the requisites of a normal contract, but it lacks the elements of consent from one of the involved parties, as per Article 1327 or on the other hand there is a mistake, acts of intimidation, fraud or there is undue influence (Article 1330). These same contracts are actually binding, but through the court action, they can be ratified or given consent. This can therefore not be confused with void contracts which in most cases affect the incapacitated. Legally speaking, a void contract is deemed as having never existed, which is unlike the voided contract that maintains the status quo until one of the affected parties deems it right to void it. This paper therefore explains a clear distinction between a voidable contract and a void contract, citing specific examples of cases in which voiding of contracts took place. For the purpose of clarity, there are four main areas that a contract can hold water under the voiding scenario, namely: c...