A contract that is legally valid but which the courts will not enforce because it does not fulfill a prerequisite. For example, two parties may agree a contract for one party to purchase some land from the other party. As land contracts have to be evidenced in writing, if there is no written evidence of the contract, it will be unenforceable. It should be distinguished from a contract that is void, which means that the contract was not legally valid in the first place.« Back to Glossary Index
Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.