Description
It's time to delve into contract law, at least momentarily. Contracts are integrated into our everyday life whether we realize it or not. If you make a purchase at a store, you are creating a contract for the purchase of said items in return for cash, check or credit. While this may not be a traditional type of contract consisting of a written document that all parties sign, this is nevertheless a contract.
Much the same, we deal with contracts on a day-to-day basis in the business world. But, can everything be contracted? Or are there certain contracts that are void or voidable (hint, hint)?
Write a 2-3 page paper using proper APA formatting. Within this paper you are asked to analyze the types on contracts that are void and voidable as well as why they are forbidden in the business world. Below are some ideas to help get you started:
- Compare and contrast void and voidable
- Against public policy
- One-Sided
- Minor exception
- Mental Capacity
- Illegal Contracts
Explanation & Answer
Attached.
Running Head: ETHICAL CONTRACT AND AGREEMENTS
Ethical Contract and Agreements
Students Name
Institutional Affiliation
1
ETHICAL CONTRACT AND AGREEMENTS
2
A void contract is a formal assentation that is ill conceived and unenforceable from the minute it
is made while a "voidable" contract is a lawful contract and can be sanctioned. Typically, just a
single party is assured of the agreement terms and conditions in a voidable contract .The
boundless party are permitted to cross out the agreement, which makes the agreement void.
There is relationship in the causes that can make an agreement void and the causes that can make
it voidable (Schaefer & J., 2010). The following contacts are either void or voidable;
Against public policy contracts
Contracts are said to be against public policy on the off chance that they have a tendency to
encourage breaking of the law, of the policy behind a law, tend to hurt the state or its natives, or
is public policy...