Examlex
Karen agrees to replace the toilet paper when it runs out if her roommate, Susan, will wash her dirty dishes every evening after dinner. This is an example of
Void
Void refers to a legal declaration that a contract or transaction is null, having no effect or force in law, typically due to failing to meet certain legal requirements.
Mistake
An error or misunderstanding in the terms or conditions of a contract that can lead to its revocation or modification if all parties agree or if a court intervenes.
Mortgage
A legal agreement where property is used as security for a loan, with the condition that the conveyance of title becomes void upon repayment of the loan.
Consideration
Something of value which is given by each party to a contract that induces them to enter into the agreement to exchange mutual performances.
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