Text 6 The Effect of Acceptance

A valid acceptance of a valid offer results in a contract — an agreement enforceable at law. A valid contract is legally effective and enforceable in court.

A void agreement (also called invalid) cannot be enforced in court by either party. It has no legal force or effect.

Under certain circumstances, only one of the parties has the power to compel legal enforcement. If that party chooses otherwise, or decides to withdraw from the transaction, then the contract will not be enforced. Such an agreement is a voidable contract. For example, when one party persuades the other to contract by means of fraud, as by saying a used car is new, the contract is voidable by the buyer.

The difference between a void agreement and a voidable contract is important. A voidable contract can be enforced or avoided by the injured party or by a legally incompetent party, such as a minor. A void agreement, on the other hand, cannot be enforced by either party. A valid contract sometimes becomes an unenforceable contract because the time limit for filing suit to enforce it has passed or because the defendant has gone bankrupt and a judgment against the person cannot be collected.

Vocabulary

valid contract законный контракт

void agreement недействительное соглашение

voidable contract контракт, который может быть аннулирован одной из сторон

to compel legal enforcement принудить в соответствии с законом

enforceable contract контракт, имеющий исковую силу, который может быть принудительно осуществлен в судебном порядке

unenforceable contract законный контракт, который не может быть принудительно осуществлен в судебном порядке

to collect востребовать

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