Property Investment Answer Requested

[MikeDonald]

Can any one please explain me what Unenforceable Contracts are & What does it Mean?

[lannarebirth]

It means that if each party upholds their obligations under the contract it is a valid contract, but if one party chooses not to, the other can seek no redress from the court.

[jaapfries]

It means that if each party upholds their obligations under the contract it is a valid contract, but if one party chooses not to, the other can seek no redress from the court.

Sort of raises the question "why bother spending the time to write such a contact, doesn't it ?" -I mean, it would be ludricous; might as well execute an agreement with the notation "Sans Prejudice" as a header . . . . . . . Total waste of timem & money !

LLB/JaapFries, Pattaya

[hagler]

An unenforceable contract usually arises where one or more of the 6 precepts for a binding contract under civil law hasn't been met at the time of the signing or verbal agreement of the contract.

These are: 1. Consent - both parties have given consent to the contract without coercion or being in a disadvantaged position

2. Capacity - both parties are capable of entering into a contract i.e of sound mind, of legal age etc

3. Consideration- something of value must be involved i.e. money or goods

4. Legal - contract must not mean that any law would be broken for example

5. Form - some contracts ( property for example) must be in writing and are not enforceable if they arent

6. Offer and Acceptance - must have been an offer made and an acceptance given

Hope this helps.

Edited September 7, 2009 by hagler

[quiksilva]

An local specific relevant example would be a lease that is longer than 36 months but has not been registered at a land department.

[lannarebirth]

An unenforceable contract usually arises where one or more of the 6 precepts for a binding contract under civil law hasn't been met at the time of the signing or verbal agreement of the contract.

These are: 1. Consent - both parties have given consent to the contract without coercion or being in a disadvantaged position

2. Capacity - both parties are capable of entering into a contract i.e of sound mind, of legal age etc

3. Consideration- something of value must be involved i.e. money or goods

4. Legal - contract must not mean that any law would be broken for example

5. Form - some contracts ( property for example) must be in writing and are not enforceable if they arent

6. Offer and Acceptance - must have been an offer made and an acceptance given

Hope this helps.

Aren't those the conditions which make a contract voidable? That's not the same thing as unenforceable, is it?