What describes a void contract?

A void contract is one that lacks one or more essential elements required for a contract to be considered valid. Essential elements include offer, acceptance, consideration, legal capacity, and a lawful objective. Without these elements, the contract cannot be legally enforced or upheld in a court of law, rendering it void from the beginning.

In contrast, a legally binding contract is one that meets all the necessary elements and can be enforced. An enforceable contract is one where the terms can be legally upheld. A contract that may be canceled could refer to a voidable contract, which is different from a void contract; a voidable contract may be valid until one party decides to void it, whereas a void contract is never valid. Thus, the characterization of a contract as void is specifically tied to its lack of essential elements.