RESCISSIBLE VOIDABLE UNENFORCEABLE VOID

DEFECT Economic Vices of Lack of form, Lack of essential

Prejudice Consent authority, or elements or illegality
capacity of both
parties
EFFECT Valid and Valid and Cannot be enforced No legal effect
enforceable enforceable by proper court
until annulled until annulled action
PRESCRIPTION OF 4 yrs 4 yrs 1 and 3 of 1403 – No prescription
ACTION action can prescribe
CURATIVE Can be cured Can be cured Cannot be cured Cannot be cured
EFFECT OF
PRESCRIPTION
RATIFICATION Do not need Can be Can be ratified Cannot be ratified
ratification ratified
ASSAIL, Not just the Only the Only the contracting Not just the
QUESTION, contracting contracting parties contracting parties,
ATTACK parties, but parties but also 3 rd persons
also 3 rd persons whose interest are
who suffered directly affected
damage or
injury
DIRECT OR Direct attack Both Both Both
COLLATERAL only
ATTACK