BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The term “unenforceable contract” refers to a contract that is either unlawful or invalid. A contract that is not approved by a court of law due to the fact that it is not lawful or contains inaccurate information is an unenforceable contract.

Detailed explanation-2: -Revocable Contract If a contract is revocable, then the court cannot enforce it. For example, if the parties explicitly agreed in the contract that it is revocable at any time, then the court will not acknowledge the contract or require specific performance.

Detailed explanation-3: -What Makes a Contract Unenforceable? If a contract is deemed unenforceable, the court will not compel a party to act or compensate the other for not fulfilling the contract terms. While the elements of an enforceable contract (offer, acceptance, consideration) seem simple, there are strict standards for enforceability.

Detailed explanation-4: -Void Contract Or Agreement The section 2(j) of the Act defines a void contract as “A contract which ceases to be enforceable by law becomes void when it ceases to be enforceable”. This makes all those contracts that are not enforceable by a court of law as void.

Detailed explanation-5: -An agreement cannot be said as a Contract unless and until it is enforced by law. A Contract is an agreement that is accepted by both parties and is enforceable by law. It gives certain rights to all the parties involved and also bestows on them certain obligations that they must fulfill.