As general rule, contracts entered into by parties are valid and binding on them. However, there are some exceptional circumstances where such contracts will be invalidated and nullified. Such instances include but are not limited to:
Misrepresentation: Did any party act on a false or misleading representation?
Undue influence: Was any party taken advantage of?
Duress: Was there force or coercion against one’s will?
Incapacity: Did both parties have the requisite capacity to contract?
Illegality: Are the agreements illegal?
Frustration: Are there unanticipated factors stalling performance?
Contracting parties should be wary of the above and ensure that their contract voluntarily entered into, reflect their true intentions and concessions.
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