What is a voidable contract?

A voidable contract is a contract that can either be accepted or rejected by one of the parties involved. In Virginia, a contract will be considered voidable if it was formed under certain conditions that make it unenforceable in court. These conditions can vary, but most often include contracts involving minors, contracts contingent upon future events that cannot be predicted, contracts of fraud and contracts involving illegal activities. When a contract is voidable, the affected party has the option to either accept or reject the contract. However, if they choose to accept the contract and proceed with its terms, then it will become valid and enforceable in court. As long as the other party has acted in good faith and with reasonable expectations, the contract can be enforced. Voidable contracts are distinct from void contracts, which are completely unenforceable in court. This means that, even if a party attempts to enforce a void contract, it will be deemed invalid and not be held up in a court of law. Voidable contracts, on the other hand, can be enforced in court if accepted, as long as all parties have acted in good faith.

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