What Factors may vitiate a valid contract?

 

The validity of the contract may be vitiated under the following factors: 

(a). where the element of agreement is impaired by mistake, misrepresentation or duress or undue influence; 

(b). Where either the party to the contract has no full contractual capacity; 

(c). Where the contract is illegal; 

(d). Where the contract partially or wholly is void under a statute; 

(e). Where the contract is against public policy. 

NB: Consequences in case a valid contract is vitiated by any of the above factor elements on the circumstances example: 

* Contract may be void i.e. it is absolutely a nullity. 

* Voidable i.e. the contract gives rise to legal consequences but may be set aside or rescinded. 

* Illegal i.e. one upon which no action can be taken except in very special circumstances. 

* An unenforceable i.e. the contract is good but one upon which a Plaintiff may not bring an action at law because of the absence of written evidence when it is required or because of some defect in contractual capacity of defendant.