Consequences of Valid, Void, and Voidable Contracts $(4-5$ Pages$)$

Define and distinguish between valid, void, and voidable contracts. Explain the legal weight and remedies

associated with valid contracts $($e$.$g$.,$ enforcement through court action$).$ Also, discuss the consequences of

void contracts $($considered unenforceable from the outset$).$ Lastly, analyze the concept of voidable contracts

and the rights of the innocent party $($e$.$g$.,$ remedies$).$A risk probability or consequence is often described as being, low, medium or high. The probability and impact of risks can be charted by a project manager on a proba