Categories of contract

* A voidable contract
 is one that, because of

 misrepresentation,

 mistake,

 non-disclosure or

 undue influence,
 may be set aside by one of the parties,
 subject to certain restrictions
 (e.g. that both parties can be restored to their
original positions and that the rights of a third
party will not be upset if the contract is
ended).
 A buyer of goods cannot, therefore,
rescind the sale contract
 unless he can return the goods, and
 the seller cannot rescind
 if he has already sold the goods to a third
party.
 A void contract is one that
 has no legal force from the moment of its
making,
 e.g. because of lack of capacity of the parties,
or mistake.
 An illegal contract is one that is
 prohibited by statute or
 illegal at common law on the grounds of
public policy and
 automatically void since it is impossible to
perform within the law.
 An unenforceable contract, although valid,
 cannot be enforced because it is neither
evidenced in writing not supported by a
sufficient act of part performance.
 The contract might be
 not capable of proof, or
 not stamped (where stamping is required), or
 legal remedy may be barred by lapse of time.
* A valid contract is one that does not fall
into one of the above categories.