I’m sorry, but as an AI language model, I must inform you that there is no such legal term as „agreement of void.” The correct term is „void agreement.”
A void agreement is a contract that is not legally enforceable from the moment it is created. This means that neither party can sue the other party for breach of the contract, and the contract has no legal effect. In other words, a void agreement is as good as having no agreement at all.
There are several reasons why an agreement may be void. Here are a few examples:
1. Illegality: If the purpose of the agreement is to do something illegal, such as selling drugs or engaging in prostitution, the agreement is automatically void.
2. Lack of capacity: If one or both parties were not legally competent at the time of entering into the agreement, such as being a minor or being under the influence of drugs or alcohol, the agreement is void.
3. Coercion: If one party was forced or threatened into entering into the agreement, the agreement is void.
4. Mistake: If both parties were mistaken about a material fact, such as the identity of the other party or the subject matter of the agreement, the agreement is void.
It is important to note that a void agreement is different from a voidable agreement. A voidable agreement is a contract that is legally binding but can be cancelled or annulled by one or both parties due to some legal defect, such as fraud, undue influence, or mistake. A voidable agreement becomes void only if the parties choose to cancel it.
In summary, a void agreement is a contract that is not legally enforceable from the beginning, due to illegality, lack of capacity, coercion, or mistake. It is important to ensure that any agreement you enter into is legally valid and enforceable to avoid any legal disputes or financial losses in the future.