A
contract having no force or an
effect. A contract that is void, is
said to be a nullity at law, no
legal effect.
As far as the
law is concerned, the agreement does
not and have not existed. Neither
party can enforce it and neither
party has any obligations under it.
Contract
that (1) is illegal (inherently
void) from the moment it is made,
(2) is legal but declared null
(having no legal effect) by the
courts because it violates a
fundamental principle such as
fairness, or is contrary to public
policy, (3) becomes void due to
changes in law or in government
policy, or (4) has been fully
performed. Lack of capacity to
contract (being an infant or minor,
intoxicated, or insane)
automatically makes a contract void.
Contract that is void only in one or
few parts may be saved by the
process of severance. Not to be
confused with
voidable contract.
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