Valid And Enforceable Contract: Valid And Unenforceable In Law
Be it for the purchase of a can of coke, an oyster card, a house or a private jet, every valid and enforceable contract exhibits certain fundamental characteristics. In the absence of any one or more of the following essentials a contract may be void, voidable, or merely unenforceable. A contract is made null and void when it can no longer be legally enforced or used due to many different factors which will be discussed in this assignment.
A contract is a formal arrangement between a party of two or more and if the terms and elements are correct, it is enforceable by law however many a times a contract can be made unenforceable if the factors which render it void occur. A void or invalid contract is one that is not enforceable at law because it lacks essential elements of a valid contract. For example if the contract is signed under threat, caution or duress. If signed by a minor, or someone with diminished mental capacity, on account of fraud or on behalf of somebody who hasn’t given anybody the permission to do so. If one party to the contract gives an indication that it is unable to hold up its end, the other party may claim an anticipatory breach of contract. If the contract is seen to be unconscionable or grossly unfair to one party, or one party commits fraud, the contract may be nullified and voided by …show more content…
The court held that Pratley’s mistake in thinking that Maritz intended to sell the Mantel piece and mirror together was held to be reasonable and Maritz’s mistake in thinking that Pratley was bidding for the mantel piece only was obviously reasonable. The court held this to be a case of mutual mistake and there was no contract. This is a mistake which regularly occurs on bidding websites such as