VITIATING FACTORS IN CONTRACT LAW:WHEN CAN A CONTRACT BE SET ASIDE?
In contract law, the principle of freedom of contract allows parties to enter into legally binding agreements. However, not all contracts remain enforceable. Certain vitiating factors can undermine the validity of a contract, making it void or voidable. This blog examines these vitiating factors, exploring when and how a contract may be set aside. A vitiating factor is one that may operate to invalidate an otherwise validly formed contract, that is a contract that conforms to all the rules of formation that I had already identified for you in one of my previous blog. (See UNDERSTANDING CORE ELEMENTS OF A VALID CONTRACT ) To vitiate, basically means to impair the quality of, to corrupt or to debase. The role of law is to provide a remedy to the party who may not have wished to enter the contract given the full knowledge of the vitiating factor at the time of formation. There can be two effects if a contract is vitiated: it may be void or voidable . Whether the contract...