Too Much Fuss About Illegal Contract

Abstract

In recent times, there have been arguments in certain quarters as to the appropriateness of classifying contracts into contracts illegal as formed and contracts illegal as performed. Some have further queried whether this classification is watertight and what exactly the legal consequences of each classification are under the law. Other arguments have also surfaced as to the distinction between an illegal contract and a void contract. It is in this wise that this paper considers, in succinct details, the position of law on the classification of illegal contracts and distinction between contracts that are merely declared void and the ones declared as illegal.

Keywords: Illegal contract, void contract, transaction, contract illegal as formed, contract illegal as performed