Table: Differences between Void and Illegal Contract
Criteria | Void Contract | Illegal Contract
————|———————–|———————–
Meaning | A contract that is not valid from the very beginning. | A contract that is considered invalid because it violates a legal statute or moral principle.
Nature of Invalidity | It does not create any legal obligations for either party. | It is illegal and void, meaning it has no legal force or effect.
Enforceability | Void contracts cannot be enforced by law, and neither party can sue the other for non-performance. | Similarly, illegal contracts cannot be enforced by law, and neither party can sue the other for non-performance.
Example | A contract made with a minor is void. | A contract to sell illegal drugs is illegal.
Statute | Void contracts do not violate any specific law or regulation. | Illegal contracts specifically violate a law or regulation.
Remedy | No remedy is available in case of breach of a void contract. | No remedy is available in case of breach of an illegal contract.
Consequence | A void contract is considered invalid from the beginning, and there is no way to make it legally binding. | An illegal contract is not only unenforceable, but it also carries potential legal consequences for both parties involved.
Intent | A void contract is created with the intention of entering into a legal agreement, but it is unenforceable for legal reasons. | An illegal contract is created with the intention of entering into an agreement that is not allowed by law.
Conclusion:
In conclusion, void and illegal contracts are both unenforceable in law, but they differ in terms of their nature and reason for invalidity. In short, a void contract is invalid because it lacks legal force, while an illegal contract is invalid because it violates a legal statute or moral principle. It is important to understand the differences between void and illegal contracts to avoid any legal disputes in the future.