What is Difference between Valid and Voidable Contract?

Valid, Contract

1. An agreement not enforceable

2. It is not enforceable by law

3. It is not enforceable by law form the beginning.

4. It is not transfer the title of the terms void has a much scopic than the terms illegal. All illegal agreements are void.

5. A void agreement is not enforcea­ble by law and the parties to the agreement cannot be penalized.

6. All transaction collateral to the void agreement can be valid.

7. The agreement loses its legal status only when its proved the void.

Voidable Contract

1. An agreement which us enforceable law at the option of one or more of the practices thereto, but not at the option of other or offers is voidable contract.

2. It is enforceable by the aggrieved parties.

3. It is valid in the beginning and contin­ues to be valid till it is repudiated by the aggrieved party.

4. It is transferable the title the owner­ship.

5. All void agreements are not illegal.

6. Both the parties to an illegal agreement are liable for punishment.

7. All collateral agreement to an illegal agreement are void.

The agreement is void from its inception.