Enforceability

Question 1

Void contracts

Answer 1

Results in the entire transaction being regarded as a nullity, as if no contract existed between the parties

Question 2

Voidable contracts

Answer 2

Operates as a valid contract unless and until one of the parties takes steps to avoid it

Question 3

Unenforceable contracts

Answer 3

A valid contract that cannot be enforced if one of the parties refuses to carry out its terms