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For each historical identification question, define the term and briefly describe its historical significance.
-Flanders
Void Contract
An agreement that is not legally binding and is unenforceable by law, typically because it lacks one or more essential elements of a valid contract.
Incompetent
Lacking the necessary skills, abilities, or legal qualifications to perform a task or to stand trial.
Binding Agreement
A legally enforceable contract that obligates the parties involved to adhere to the terms outlined within the agreement.
Bilateral Contract
A contract involving two parties where each promises to perform an act in exchange for the other's act.