DR.

RAM MANOHAR LOHIYA NATIONAL LAW

UNIVERSITY, LUCKNOW
2015-16
B.A.,L.L.B.(Hons.)-IInd Semester

CONTRACTS

FINAL DRAFT
Categories of Contracts

SUBMITTED TO: SUBMITTED BY:

Dr. Visalakshi Vegesna Stuti Sinha
Associate Professor (Law) Section-B
Roll No.149
 ACKNOWLEDGEMENT

First of all, I would to thank my teacher of the Subject “Contracts”, Dr. Visalakshi
Vegesna who helped me and my project partner in suggesting the topic of the project. I would
also like to thank my parents, friends and others who helped me immensely at every step and
gave every possible bit of help that I needed in preparing the project and making it look
presentable in a good way. I would also like to thank the library staff of Dr. RMLNLU who
provided me with books that I needed in making and preparing the project and other pieces of
information and help that was required. At last I would like to sincerely thank God who gave
me the much needed strength and power to go ahead with the project and make it in a
presentable way.
TABLE OF CONTENTS

INTRODUCTION ..................................................................................................................... 4
DEFINING CONTRACT .......................................................................................................... 5
TYPES OF CONTRACTS ........................................................................................................ 6
TYPES OF CONTRACTS ON THE BASIS OF FORMATION .............................................. 7
TYPES OF CONTRACTS ON THE BASIS OF THE NATURE OF CONSIDERATION ... 10
TYPES OF CONTRACTS ON THE BASIS OF EXECUTION............................................. 11
TYPES OF CONTRACTS ON THE BASIS OF VALIDITY ................................................ 12
VOID CONTRACTS AND ILLEGAL CONTRACTS .......................................................... 13
VOID CONTRACTS AND VOIDABLE CONTRACTS ....................................................... 15
BIBLIOGRAPHY………………………………………………………………………………………………………………17
INTRODUCTION

The purpose of a contract is to establish the agreement that the parties have made and to fix
their rights and duties in accordance with that agreement. The courts must enforce a valid
contract as it is made, unless there are grounds that bar its enforcement.

Statutes prescribe and restrict the terms of a contract where the general public is affected. The
terms of an insurance contract that protect a common carrier are controlled by statute in order
to safeguard the public by guaranteeing that there will be financial resources available in the
event of an accident.

The courts may not create a contract for the parties. When the parties have no express or
implied agreement on the essential terms of a contract, there is no contract. Courts are only
empowered to enforce contracts, not to write them, for the parties. A contract, in order to be
enforceable, must be a valid. The function of the court is to enforce agreements only if they
exist and not to create them through the imposition of such terms as the court considers
reasonable.

It is the policy of the law to encourage the formation of contracts between competent parties
for lawful objectives. As a general rule, contracts by competent persons, equitably made, are
valid and enforceable. Parties to a contract are bound by the terms to which they have agreed,
usually even if the contract appears to be improvident or a bad bargain, as long as it did not
result from Fraud, duress, or Undue Influence.

The binding force of a contract is based on the fact that it evinces a meeting of minds of two
parties in Good Faith. A contract, once formed, does not contemplate a right of a party to
reject it. Contracts that were mutually entered into between parties with the capacity to
contract are binding obligations and may not be set aside due to the caprice of one party or
the other unless a statute provides to the contrary.
DEFINING CONTRACT

The word Contract was derived from a Latin word “Contractum”. The word contractum
means drawn together. Following definitions of contract were given by different people:

 Agreement creating and defining obligations between the parties is called Contract. -
Salmond
 Any agreement or promise enforceable at law is called Contract. - Pollock
 Agreement upon consideration basis to do or not to do a particular thing is called
contract. - Black Stone

As per The Indian Contract Act, 1872 a contract is defined as –

“Agreement enforceable by law is called contract.”1

Thus Contract is defined as agreement. To form an agreement, two elements are needed,
namely;

 Offer and
 Acceptance.

The status of offer is equal to that of question and the status of acceptance is equal to that of
answer. The person who is making the offer is called Offerer or Promissor or Proposer. The
person who is giving acceptance is called Offeree or Promise or Acceptor.2

Agreements can be classified into two groups, namely Social Agreements and Legal
Agreements. The agreement which is not enforceable by law is called Social agreement. Here
only one directional consideration will be seen. The agreement which is enforceable by law is
called legal agreement. In case on legal agreement, two directional consideration will be seen.

1
Indian Contract Act, 1872 Sec.2 (h)
2
What Contract, Laws of Business: What is a Contract Lawsofbusiness.com (2016),
http://www.lawsofbusiness.com/2013/04/what-is-contract.html (last visited Mar 31, 2016).
TYPES OF CONTRACTS

There have been a lot of cases concerning the contractual relationship between two or more
parties. Since there are many aspects of a contract, for the sake of its simplification, contracts
have been classified into different categories. Every contract finds its place in any one of the
categories which contracts are divided into. It is very important to understand different
categories of contract as there are different provisions in our legal system for different types
of contract. So whenever there is a possible breach of contract, there should be a clear view
of what remedies are available for the victim of such a breach. This project talks about the
nature of different types of contracts and what are the conditions that are to be fulfilled to
place that contract in a particular category as well as what are the different provisions in our
legal system relating to these categories of contract. This project also aims at throwing light
upon some of the important cases relating to these categories that have taken place in our
country and other parts of the world for better understanding.3

Following are the basis on which a contract is divided into different categories:

 On the basis of Formation,

 On the basis of Nature of Consideration,
 On the basis of Execution and
 On the basis of Validity.

Taking this project forward we will discuss about each of these categories separately and in
detail.

3
Types Contracts, Laws of Business: Types of Contracts Lawsofbusiness.com (2016),
http://www.lawsofbusiness.com/2013/08/types-of-contracts.html (last visited Mar 31, 2016).
TYPES OF CONTRACTS ON THE BASIS OF FORMATION

On this base Contracts can be classified into three groups, namely

 Express,
 Implied,
 Quasi Contracts.

Express Contract: The Contracts where there is expression or conversation are called
Express Contracts. For example: A has offered to sell his house and B has given acceptance.
It is Express Contract.

Example: Miguel wants to purchase his first home. He found the perfect place in Pasadena.
The contract for purchase was signed, and he closed on the home within a month.

The contract Miguel entered into is an expressed contract because the elements are
specifically stated, including offer, acceptance and consideration. To break it down, a
contract contains six elements:

 An offer
 Acceptance of the offer
 Consideration
 Mutual assent
 Capacity
 Legally accepted terms

This is pretty straightforward. Miguel searched for a home, found the perfect place and
accepted the seller's offer to purchase.

Once Miguel did that, he had to come up with the money to purchase the home. Both parties
agreed to the terms, and are of age and mental capacity to enter into the contract, and there
was nothing illegal about the sale. Miguel is now a happy homeowner.

But not every contract works this way. In fact, some contracts are not written or expressed.
They just happen because of a circumstance. This sounds counter-intuitive, I know.4

Implied Contract: The Contracts where there is no expression are called implied contracts.
Sitting in a Bus can be taken as example to implied contract between passenger and owner of
the bus.

4
Express and implied contracts | Law Exams, Lawexams.com (2016), https://lawexams.com/implied-contracts
(last visited Mar 31, 2016).
An implied contract works differently. This type of contract evolves when no written contract
is present, but circumstances may cause one person to become unjustly enriched as a result of
their actions or an understanding exists.5

There are two types of implied contracts:

 Implied in fact
 Implied in law

An example of each will help to explain the conditions necessary for each type of contract.

When you arrive at the hair salon for your usual cut, it is expected that you will pay for the
services rendered. That is an implied in fact contract. The common understanding based on
the conduct of the parties serves as a contract to pay for your new 'do!

Now, implied in law contracts work a bit differently. In fact, they are really not contracts at
all. That is why the law gives them a clever name like 'quasi-contracts.' This is because the
court determines whether this type of contract existed after performance or non-performance
as a means to determine whether one party can collect restitution for a service they
performed.

An example will help. Suppose you choked on a fish bone at your favorite seafood restaurant.
Lucky for you, there was a doctor in the house. After the doctor performed the Heimlich
maneuver to dislodge the obstruction, he handed you a bill for his services.

You may refuse to pay because you did not solicit his services, but you won't get very far.
The law will look at whether you were unjustly enriched by accepting his services to clear
your throat. And this occurs when one party receives something of value from another
unfairly, like receiving free medical treatment to save your life.

It is relevant to state in respect of mode of creation, certain contracts may be a mixture of the
‘express’ and ‘implied’ types of contracts, that is, where out of the two components of an
agreement, namely, offer and acceptance, one is expressed in words and the other is implied
from acts and circumstances. Such contracts may be called as contracts of mixed character.
For example, A offers to buy B’s scooter for Rs. 4,000 and B accepts the offer by sending the
scooter itself. Here A’s offer is expressed in words and B’s acceptance is implied form his
conduct. It is a contract of mixed character.

Quasi Contract: In case of Quasi Contract there will be no offer and acceptance so, Actually
there will be no Contractual relations between the partners. Such a Contract which is created

5
Expressed vs. Implied Contracts: Differences & Examples - Video & Lesson Transcript | Study.com, Study.com
(2016), http://study.com/academy/lesson/expressed-vs-implied-contracts-differences-examples.html (last
visited Mar 31, 2016).
by Virtue of law is called Quasi Contract. Sections 68 to 72 of Contract Act read about the
situations where court can create Quasi Contract.6

Sec. 68: When necessaries are supplied

Sec. 69: When expenses of one person are paid by another person.

Sec. 70: When one party is benefited by the activity of another party.

Sec. 71: In case of finder of lost tools.

Sec. 72: When payment is made by mistake or goods are delivered by mistake.

Example: A case on this occasion is Chowal Vs Cooper7. In this case A`s husband becomes
no more. She is very poor and therefore not capable of meeting even cost of cremation. B,
one of her relatives, understand`s her position and spends his own money for cremation. It is
done so without A`s request. Afterwards B claims his amount from A where A refuses to pay.
Here court applies Sec. 68 and creates a Quasi Contract between them.

Another case concerned with Quasi Contract is the case of Bailey v. West8 where the issue
was whether a volunteer recover for a benefit conferred under quasi-contract or not. The
facts of the case are given below:

West (D) purchased a horse named Bascom’s Folly from Dr. Strauss. West discovered on
arrival that the horse was lame and ordered that the horse be returned to Strauss. Strauss
refused to accept the horse and the driver brought the horse to Bailey’s (P) farm where the
horse remained for over four years. Bailey sent bills for the horse’s care to West who
returned them with the notation that he did not own the horse.

Bailey sued West and the trial court held that an implied in fact contract to board the horse
existed between the parties. The court held that the contract was in force until Bailey received
notice from West that he would not pay for the boarding of the horse. The court determined
that the contract had been in force for five months and awarded the cost of boarding the horse
for that period. Bailey appealed and West cross appealed.

Holding and Rule: No. A volunteer may not recover for a benefit conferred under quasi-
contract.

In this case there was no implied in fact contract because there was no evidence that the
parties ever actually intended to contract. If performance is rendered by one party without
request by another, that person will generally not owe a duty to compensate the performing
party.

6
Types Contracts, Laws of Business: Types of Contracts Lawsofbusiness.com (2016),
http://www.lawsofbusiness.com/2013/08/types-of-contracts.html (last visited Mar 31, 2016).
7
43 Mass. App. Ct. 51

8
105 R.I. 61, 249 A.2d 414 (1969), (1969).
TYPES OF CONTRACTS ON THE BASIS OF THE NATURE OF CONSIDERATION

On this base, Contracts are of two types. Namely Bilateral Contracts and Unilateral
Contracts.

Bilateral Contracts: If considerations in both directions are to be moved after the contract, it
is called Bilateral Contract. A bilateral contract is a reciprocal arrangement between two
parties where each promises to perform an act in exchange for the other party's act. Each
party is an (a person who is bound to another) to its own promise, and an obligee (a person to
whom another is obligated or bound) on the other party's promise.9

Example: A Contract has got formed between X and Y on 1st Jan, According to which X
has to deliver goods to Y on 3rd Jan and Y has to pay amount on 3rd Jan. It is bilateral
contract.

Unilateral Contract: If considerations is to be moved in one direction only after the

Contract, it is called Unilateral Contract. A unilateral contract is a contract created by an offer
than can only be accepted by performance. A unilateral contract can be formed by an express
offer stating that the offer can only be accepted through performance.10

Example: A has lost his purse and B is its finder. There after B searches for A and hands it
over to A. Then A offers to pay Rs. 1000/- to B to which B gives his acceptance. Here, after
the Contract consideration moves from A to B only. It is Unilateral Contract.

In Mohd. Mohar Ali Case11 it was observed that an agreement of sale is a unilateral contract
is not correct. A unilateral contract refers to a gratuitous promise where only one party makes
the promise without a return promise.12

9
investopedia.com (2010) ‘Bilateral contract’, in Available at: http://www.investopedia.com/terms/b/bilateral-
contract.asp (Accessed: 31 March 2016).
10
Unilateral Contract, LII / Legal Information Institute (2016),
https://www.law.cornell.edu/wex/unilateral_contract (last visited Mar 31, 2016).
11
AIR 1998 Gau 92., (1998).
12
SCC Online, Scconline.com (2016), http://www.scconline.com/Members/SearchResult2014.aspx (last visited
Mar 31, 2016).
TYPES OF CONTRACTS ON THE BASIS OF EXECUTION

On this base Contracts can be classified into two groups. namely, Executed and Executory
Contracts.

Executed Contract: An executed contract is a legal document that has been signed off by the
people necessary for it to become effective. The contract is often made between two or more
people, but it can also be between a person and an entity, or two or more entities. If
performance is completed, it is called executed contract.

Example: One example of this type of “executed contract” would be a contract for purchase
of a major appliance. This contract is entered into, and the appliance is immediately
delivered.

Executory Contracts: An executory contract is a contract made by two parties in which the
terms are set to be fulfilled at a later date. The contract stipulates that both sides still have
duties to perform before it becomes fully executed. The contract is often in place between a
debtor or borrower and another party. In case where contractual obligations are to be
performed in future, it is called executor contract.

Example: An example of an “executory contract” may be a contract with a general contractor

for the construction of a house, for which the work is to begin in four month time.

The important thing to understand is that, in either case, once a contract has been signed by
all the parties, it becomes legal and binding.13

13
DIFFERENCE BETWEEN EXECUTED AND EXECUTORY CONTRACT, anandspace (2011),
https://anandspace.wordpress.com/2011/07/12/difference-between-executed-and-executory-contract/ (last
visited Mar 31, 2016).
TYPES OF CONTRACTS ON THE BASIS OF VALIDITY

On this base Contracts can be classified into 5 groups. namely Valid, Void, Voidable, Illegal
and Unenforceable Contracts.

Valid: The Contracts which are enforceable in a court of law are called Valid Contracts. To
attain Validity the Contract should have certain features like consensus ad idem, Certainty,
free consent, two directional consideration, fulfillment of legal formalities, legal obligations,
lawful object, capacity of parties, possibility of performance, etc.

Example: there is a Contract between X and Y and let us assume that their contract has all
those above said features. It is Valid Contract.

Void: A Contract which is not enforceable in a court of law is called Void Contract. If a
Contract is deficient in any one or more of the above features (Except free consent and legal
formalities). It is called Void Contract.14

As given in the Indian Contract Act, A contract which ceases to be enforceable by law
becomes void when it ceases to be enforceable.15

Example: there is a Contract between X and Y where Y is a minor who has no capacity to
contract. It is Void Contract.

Voidable: A Contract which is deficient in only free consent, is called Voidable Contract.
That means it is a Contract which is made under certain pressure either physical or mental. At
the option of suffering party, a voidable contract may become either Valid or Void in future.
For example: there is a Contract between A and B where B has forcibly made A involved in
the Contract. It is voidable at the option of A.

Illegal: If the contract has unlawful object it is called Illegal Contract.16

Example: There is a contract between X and Z according to which Z has to murder Y for a
consideration of Rs. 10000/- from X. It is illegal contract.

Unenforceable: A contract which has not properly fulfilled legal formalities is called
unenforceable contract. That means unenforceable contract suffers from some technical
defect like insufficient stamp etc. After rectification of that technical defect, it becomes
enforceable or valid contract.

14
The Megna Mills Co . Ltd . vs . Ashoka Marketing Co AIR1971 SC 166 , (1970 )3 SCC168 , [1971 ]2 SCR751,
(1970).
15
Indian Contract Act, 1872 section 2(i)
16
Types Contracts, Laws of Business: Types of Contracts Lawsofbusiness.com (2016),
http://www.lawsofbusiness.com/2013/08/types-of-contracts.html (last visited Mar 31, 2016).
Example: A and B have drafted their agreement on Rs. 10/- stamp where it is to be written
actually on Rs. 100/- stamp. It is unenforceable contract.

VOID CONTRACTS AND ILLEGAL CONTRACTS

All illegal Contracts are void, but all void contracts are not illegal: An illegal Contract will
not be implemented by court. So, illegal contract is Void. A void contract may not be illegal
because its object may be lawful.

The term ‘void’ means no legal binding and ‘agreement’ means consensus between parties
regarding a course of action. To simply, put a void agreement is an agreement which is not
legally binding, i.e. an agreement which lacks enforceability by law is void.

A void agreement loses its legal binding nature when declared void. Such agreement does
not creates any rights and obligation for the parties, as well as the parties do not get any legal
status. The transactions associated to the void transaction would be valid.

Certain agreements are void ab initio as per Indian Contract Act, which are – agreement in
restraint of marriage, agreement in restraint of trade, agreement in restraint of legal
proceeding, agreement with minor, agreement whose object or consideration is unlawful,
wagering agreement etc.

An agreement that voilates any law or whose nature is criminal or is opposed to any public
policy or immoral, is an illegal agreement. These agreements are void ab initio and so the
agreements collateral to the original agreement are also void. Here collateral agreement refers
to the transaction associated or incidental to the main agreement.

The agreements are strictly prohibited by law, hence entering into an illegal agreement is
called a punishable offense in the eyes of law. Therefore, the parties are penalized for the
same, under Indian Penal Code. Some examples of an illegal agreement are like an agreement
whose terms are not certain, or a an agreement to kill someone etc.

The Contracts which are collateral to illegal contract are void, But the contracts which are
collateral to Void contract may be Valid: An illegal makes not only itself Void but also the
contracts connected to it. But a contract collateral to void contract may attain Validity
because object of main contract is lawful.

The difference between void and illegal agreement can be drawn clearly on the following
grounds:

 An agreement which loses is legal status is a void agreement. An illegal agreement is

one which is not permissible under law.
 Certain void agreements are void ab initio while some agreements becomes void
when it loses its legal binding. On the other hand, Illegal agreement are voice since
the very beginning.
  A void agreement is not prohibited by Indian Penal Code (IPC) but an illegal
agreement is strictly prohibited by IPC.
 The scope a void contract is comparatively wider than an illegal contract as all
agreements which are void may not necessarily be illegal but all illegal agreements
are void from its inception.
 A void agreement is not punishable under law whereas an illegal agreement is
considered as an offense, hence the parties to it are punishable and penalized under
Indian Penal Code (IPC).
 Collateral agreements of a void agreement may or may not be void i.e. they may be
valid also. Conversely, collateral agreements of an illegal agreement cannot be
enforceable by law as they are void ab initio.17

After reviewing the above points, it is quite clear that the void and illegal agreement are very
different. One of the factors that makes an agreement void, is the illegality of the contract,
such as contract whose object or consideration is unlawful. Moreover, in both the two
agreements loses its enforceability by law.

17
Surbhi S, Difference Between Void and Illegal Agreement (with Comparison Chart) - Key Differences Key
Differences (2016), http://keydifferences.com/difference-between-void-and-illegal-agreement.html (last
visited Mar 31, 2016).
VOID CONTRACTS AND VOIDABLE CONTRACTS

Void contract is the contract which are not enforceable in the court of law. At the time of
formation of the contract, the contract is valid as it fulfills all the necessary conditions
required to constitute a valid contract, i.e. free consent, capacity, consideration, a lawful
object, etc. But due to subsequent change in any law or impossibility of an act, which are
beyond the imagination and control of the parties to the contract, the contract cannot be
performed and hence it becomes void. Further, no party cannot sue the other party for the
non-performance of the contract.

The contract becomes void due to the change in any law or any government policy for the
time being in force in India. Along with that the contracts which are opposed to public policy
also ceases its enforceability. Contracts with incompetent persons are also declared void like
minor, persons of unsound mind, alien enemy or convict etc.

Voidable Contract is the contract which can be enforceable only at the option of one of the
two parties to the contract. In this type of contract, one party is legally authorized to make
decision to perform or not to perform his part. The aggrieved party is independent to choose
the action. The right may arise because the consent of concerned party is influenced by
coercion, undue influence, fraud or misrepresentation etc.

The contract becomes valid until the aggrieved party does not cancels it. Moreover, the party
aggrieved party has the right to claim damages from the other party.

The major differences between void contract and voidable contract are as under:

 A contract which lacks enforceability is Void Contract. A contract which lacks the
free will of one of the parties to contract is known as Voidable Contract.
 Void Contract is defined in section 2 (j) while Voidable Contract is defined in Section
2 (i) of the Indian Contract Act, 1872.
 A void contract was valid at the time when it is created, but later on it becomes
invalid. Conversely, voidable contract is valid until the aggrieved party, does not
revokes it within stipulated time.
 When it is impossible, for an act to be performed by the parties it becomes void, as it
ceases its enforceability. When the consent of the parties to the contract is not free,
the contract becomes voidable at the option of the party whose consent is not free.
 In void contract, no party can claim any damages for the non-performance of the
contract. On the other hand, the aggrieved party can claim damages for any loss
sustained.18

18
Surbhi S, Difference Between Void Contract and Voidable Contract (with Comparison Chart) - Key
Differences Key Differences (2015), http://keydifferences.com/difference-between-void-and-voidable-
contract.html (last visited Mar 31, 2016).
 Examples

 A promises B to sell his horse after one month to B for Rs. 50,000. Before the
completion of one month, the horse died. Now, the contract becomes void as the
contract cannot be performed, i.e. the object on which the parties agreed is no more so
there is an impossibility of performance of contract. This type of Contract is known as
Void Contract.
 X says to Y, that he should sell his new bungalow to him at a nominal price
otherwise, he will damage his property and Y enters into a contract due to fear. In
this situation, the contract voidable as the consent of Y is not free, so he has the right
to avoid the performance of his part. As well as he can claim for any damages caused
to him.

There are many contracts which are valid, but sometimes due to certain
circumstances, they cease to be enforceable which makes them a void contract
because it is impossible that the contract is to be further executed. Similarly, there are
many people who unlawfully induce or persuade the will of another person to enter
into a contract, which becomes voidable at the option of the party whose consent was
so induced.19

19
Surbhi S, Difference Between Void Contract and Voidable Contract (with Comparison Chart) - Key
Differences Key Differences (2015), http://keydifferences.com/difference-between-void-and-voidable-
contract.html (last visited Mar 31, 2016).
BIBLIOGRAPHY

 What Contract, Laws of Business: What is a Contract Lawsofbusiness.com

(2016), http://www.lawsofbusiness.com/2013/04/what-is-contract.html (last
visited Mar 31, 2016).
 Types Contracts, Laws of Business: Types of Contracts Lawsofbusiness.com
(2016), http://www.lawsofbusiness.com/2013/08/types-of-contracts.html (last
visited Mar 31, 2016).
 Express and implied contracts | Law Exams, Lawexams.com (2016),
https://lawexams.com/implied-contracts (last visited Mar 31, 2016).
 Expressed vs. Implied Contracts: Differences & Examples - Video & Lesson
Transcript | Study.com, Study.com (2016),
http://study.com/academy/lesson/expressed-vs-implied-contracts-differences-
examples.html (last visited Mar 31, 2016).
 investopedia.com (2010) ‘Bilateral contract’, in Available at:
http://www.investopedia.com/terms/b/bilateral-contract.asp (Accessed: 31
March 2016).
 Unilateral Contract, LII / Legal Information Institute (2016),
https://www.law.cornell.edu/wex/unilateral_contract (last visited Mar 31,
2016).
 SCC Online, Scconline.com (2016),
http://www.scconline.com/Members/SearchResult2014.aspx (last visited Mar
31, 2016).
 DIFFERENCE BETWEEN EXECUTED AND EXECUTORY CONTRACT,
anandspace (2011), https://anandspace.wordpress.com/2011/07/12/difference-
between-executed-and-executory-contract/ (last visited Mar 31, 2016).
 Surbhi S, Difference Between Void and Illegal Agreement (with Comparison
Chart) - Key Differences Key Differences (2016),
http://keydifferences.com/difference-between-void-and-illegal-agreement.html
(last visited Mar 31, 2016).
 Surbhi S, Difference Between Void Contract and Voidable Contract (with
Comparison Chart) - Key Differences Key Differences (2015),
http://keydifferences.com/difference-between-void-and-voidable-contract.html
(last visited Mar 31, 2016).