What is a void contract?

A void contract is a contract that is not legally valid due to a defect in its making or because it does not meet the requirements of the law. In Hawaii, for a contract to be valid, it must be in writing and duly signed by the parties involved. Additionally, it must meet certain requirements such as capacity of the parties involved, legal subject matter, consideration, and legality of the terms. If any of these elements are missing, the contract is not valid and is considered a void contract. Void contracts are not enforceable and a court will not enforce the rights and duties stated in the contract. This means that it does not create any legally binding obligations on the parties and they are both free to walk away from the contract. Void contracts are different from voidable contracts, which are valid contracts but can be cancelled or revoked by one party due to certain reasons. It is important to note that a contract can become void after it has been made due to changes in the circumstances or law.

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