VOIDABLE VS. RESCISSIBLE VS. UNENFORCEABLE VS.

VOID

Under Article 1382, if one party is unable to pay debts owed, the injured party can rescind the contract.
Rescission is only necessary to the extent that it is required to cover damages. The offending party must
return the items that were the subject of the contract, along with interest. Therefore, rescission can
only occur if the person can return what he or she is required to return.

Distinctions in Defective Contracts

Contracts become defective typically by: 

 Defect itself

 Damage or prejudice

 Effect

 Remedy

Contracts that are void due to defect itself include:  

 Void contracts that are caused by illegality or lack of essential elements.

 Voidable contracts that are defective because of their methods of consent.

 Rescissible contracts that are caused by damages or lesion to one of the contract parties or
another third party.

 Unenforceable contracts that lack authority, capacity, or both parties' consent.

 Contracts that are not compliant with the Statute of Frauds or entered into on behalf of another
party without their authority. 

Void contracts cannot be ratified, but voidable contracts can be ratified in some circumstances.
Rescissible contracts might be subject to convalidation, but not official ratification. Unenforceable
contracts are also subject to ratification in some cases.

Under Article 1410, void contracts cannot be cured by prescription, but voidable ones can. Rescissible
contracts can also be cured by prescription while unenforceable ones cannot.

SOURCES:

https://www.upcounsel.com/rescissible-contract#:~:text=Void%20contracts%20that%20are
%20caused,parties%20or%20another%20third%20party.

https://www.upcounsel.com/rescissible-contract#:~:text=Void%20contracts%20that%20are
%20caused,parties%20or%20another%20third%20party.