A key feature of a voidable contract is that it can be legally unenforceable if certain conditions are met. Voidable contracts are agreements where one or both parties have the ability to cancel or void the contract if certain conditions or circumstances arise. This means that the contract is not necessarily invalid, but rather it is subject to certain conditions that may render it unenforceable.
One of the most common reasons why a contract may be voidable is if one or both parties were under duress or coercion when entering into the agreement. In these cases, the contract can be cancelled or voided if it can be proven that one or both parties were not acting of their own free will. For example, if one party was threatened or forced into signing a contract, the contract may be voidable.
Another common reason why a contract may be voidable is if one party was misled or deceived during the negotiations. This could include misrepresentations or omissions of material facts that would have affected the decision to enter into the agreement. For example, if one party was promised a certain delivery time for goods, but the other party knew that this was not possible, the contract could be voidable.
It is important to note that a voidable contract is different from a void contract. A void contract is one that is completely invalid from the start due to some legal defect, such as the subject matter of the contract being illegal. A voidable contract, on the other hand, is initially valid but can be cancelled or voided if certain conditions are met.
In conclusion, a key feature of a voidable contract is that it can be legally unenforceable if certain conditions are met. These conditions typically involve duress, coercion, or misrepresentation during the negotiations. It is important to understand the difference between a voidable and void contract to ensure that your agreements are legally enforceable.