As a professional, I can help you create an informative article that will help readers understand the different types of void agreements.
Void agreements refer to contracts that are not legally binding and cannot be enforced by either party. There are several types of void agreements, and it is essential to understand the distinctions between them. This article will explain different types of void agreements.
1. Agreement by a Minor
If a person who is not of legal age (18 years in most jurisdictions) enters into a contract, it is considered a void agreement. This is because minors lack the legal capacity to enter into binding contracts, and any agreement they make is considered void.
2. Agreement Made Under Coercion or Undue Influence
Another type of void agreement is one that is made under coercion or undue influence. This refers to a situation where one party forces the other to enter into a contract against their will. The agreement is not valid because it is not entered into voluntarily.
3. Agreement Made for Illegal Consideration
Agreements that involve illegal consideration are also considered void. This refers to a situation where the consideration offered in exchange for the agreement is illegal. For example, if someone offers to pay another person to commit a crime, the agreement is considered void.
4. Agreement with a Person of Unsound Mind
If a person enters into a contract while they are deemed to be of unsound mind or suffering from a mental illness, the agreement is void. This is because such people are not considered competent to enter into a binding contract.
5. Agreement without Consideration
In contract law, consideration refers to the exchange of something of value between parties to the agreement. If an agreement is made without consideration, it is considered void. For example, if someone promises to do something for another person without receiving anything in exchange, the agreement cannot be enforced.
In conclusion, understanding the different types of void agreements is essential in ensuring that you do not enter into a contract that is not legally valid. If you believe that an agreement you entered into falls under any of the above categories, it is essential to seek legal advice to understand your options.