Agreement voidable, as the name suggests, refers to an agreement that is valid but can be cancelled or voided by one of the parties involved in the agreement. Such agreements are usually signed under circumstances where one party has a higher bargaining power or authority than the other party, and the weaker party is forced to agree to the terms and conditions set by the stronger party.
In many cases, the weaker party may not fully understand the implications of the agreement, or may not have the legal capacity to enter into the agreement. This is where the concept of agreement voidable comes into play. It provides a legal remedy to the weaker party, who may choose to cancel or void the agreement if certain conditions are met.
For an agreement to be voidable, there must be some form of coercion, undue influence, misrepresentation, fraud, mistake, or incapacity that affects the validity of the agreement. For instance, if a person signs a contract under duress or intimidation, the agreement can be considered voidable. Likewise, if one party misrepresents the facts or conceals important information, the other party may have grounds to cancel the agreement.
The law provides a time limit for parties to void a voidable agreement. In most cases, the weaker party has a reasonable period to cancel the agreement after discovering the coercion, misrepresentation, or fraud. Failure to do so within the prescribed period may render the agreement legally binding.
In some instances, a voidable agreement may be ratified or validated by the parties involved. This can occur when the weaker party affirms the terms of the agreement or continues to act in accordance with the terms of the agreement, even after discovering the underlying issue. Ratification can be express or implied, and can make the agreement enforceable.
In conclusion, agreement voidable is a legal concept that provides protection to parties who enter into an agreement under duress, coercion, misrepresentation, fraud, mistake, or incapacity. It allows such parties to cancel or void the agreement under certain conditions. However, the legality of a voidable agreement depends on several factors, including the type of coercion or misrepresentation involved and the time limit for cancellation. It is therefore important for parties to a contract to seek legal advice before entering into any agreement to avoid falling victim to a voidable agreement.