As a professional, I have written an article on «when does an agreement become void?»
Agreements are a fundamental part of our everyday life. They are the building blocks of relationships, whether business or personal. But, there are times when an agreement becomes void.
Here are some of the reasons an agreement can become void:
If an agreement is illegal at the time it was made, it is void from the beginning. For example, if two parties agree to rob a bank and sign an agreement to split the money, the agreement is void as it is illegal.
An agreement becomes void when the performance of the contract becomes impossible. For example, if two parties agree to deliver goods by a specific date, but the goods are destroyed before delivery, the agreement becomes void.
3) Misrepresentation or fraud
An agreement becomes void if either party has made a misrepresentation or fraudulently induced the other party to enter the agreement. If one party withholds vital information from the other party or lies, then the agreement is void.
An agreement is void if one party uses coercion or undue influence to make the other party enter into the agreement. If one party threatens the other party with physical harm in the event of non-agreement, then the agreement is void.
An agreement is void if both parties have made a mistake regarding the subject matter of the agreement, which makes the performance of the contract impossible. For example, if both parties enter into a contract to sell a specific car, but the car is destroyed before the contract is performed, the agreement is void.
6) Breach of contract
An agreement becomes void if one party breaches the contract by failing to perform their obligations under the agreement. A material breach of contract can render an agreement void.
In conclusion, there are various reasons why an agreement can become void. It is essential to have a clear understanding of the terms and conditions of the agreement before entering into it. If any of the above-stated reasons apply, the agreement will be void, and the parties will not be bound by its terms.