Title: Define the legal effects of contracts (e.g., void, voidable, and unenforceable).
Course: Real Estate (12154) > Section: Understanding Contracts

Definition should include legal definition of these effects as provided by the Real Estate Commission or commission-approved textbooks.

Definition should also include illustrations of each/discussion of actions that constitute a breach of contract (cancellation or termination), as well as relevant remedies for and consequences of a breach of contract.

DPOR correlation: 18VAC135-20-400. 4 (Contracts)

Process/Skill Questions:

- What is a void contract? What is an example of a void contract?
- What is a voidable contract? What is an example of a voidable contract?
- What is the difference between a void and a voidable contract?
- When can a contract be unenforceable? What is an example of an unenforceable contract?
- What is a breach of contract?