BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Simply put, contract fraud occurs when a person knowingly makes a false statement in order to have someone else agree to a contract. This act is intended to deceive or trick the other person into signing a contract that they may not otherwise agree to.

Detailed explanation-2: -A void contract is a formal agreement that is effectively illegitimate and unenforceable from the moment it is created. 1. A void contract differs from a voidable contract, although both may indeed be nullified for similar reasons. A contract may be deemed void if it is not enforceable as it was originally written.

Detailed explanation-3: –All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not hereby expressly declared to be void."

Detailed explanation-4: –When consent to an agreement is caused by coercion, 1[***] fraud or misrepresentation, the agreement is a contract voidable at the option of the party whose consent was so caused.