Question

What is the difference between a void and a voidable contract? What makes a contract void? What makes a contract voidable? 

Answer 1

A void contract is the one which lacks enforceability by law whereas a voidable contract is one wherein one party has the right to enforce or revoke the contract.

A contract will be considered void if it requires one party to perform an act that is impossible or illegal. In a void contract if one party breaches the agreement, you cannot do anything because essentially there was no valid contract. The law treats void contract as it was never been formed.

A voidable contract is a valid contract & can be enforced. Generally only one party is bound to contract terms. In voidable contract the unbound party has the right to cancel the contract. This makes the contract void.