Business Law: Breaking The Deal - Void

The video tutorial explains how contracts can become void, voidable, or unenforceable based on certain defenses. It covers seven main defenses: lack of capacity, fraud, duress, undue influence, illegality, impossibility, and the statute of frauds. Each defense is discussed in detail, highlighting how they affect the enforceability of contracts. The tutorial also explains the importance of written contracts in certain situations as per the statute of frauds.

What are the three main outcomes for a contract if a defense is found to exist by a court?

Explain the concept of 'lack of capacity' in relation to contracts.

What are the three elements that constitute fraud in a contract?

Describe how duress can affect the validity of a contract.

What is the difference between undue influence and duress?

What does it mean for a contract to be considered illegal?

List the four situations in business law that require a signed written contract according to the statute of frauds.