Conventional Common Law reasons for finding a Contract
VOID ab initio.
- Fraud in the Factum, ie: Fraud as to the Nature
of the contract.
- Absence of mutual assent
- Mutual Mistake about the essential nature of K
- Ambiguity or Misunderstanding
- If Neither or Both were aware of ambiguity
- Different intent -> VOID
- Same intent -> ENFORCEABLE
- If One party was aware of ambiguity
- Other parties belief prevails -> ENFORCEABLE
- If Offeree doesn't understand offer:
- Negligent failure to read or understand -> ENFORCEABLE
- Fraudulent misrepresentation by Offeror:
- Contract formed based on Offeree's understanding
- blanket recitals of understanding may be ineffective
- Absence of Consideration: A party had no real obligation.
- Illegality, unless parties not 'in pari delicto'