What characterizes a void contract?

A void contract is characterized by its complete lack of enforceability in any legal context. Such contracts have no legal effect from the outset and cannot be upheld or enforced by either party. This can occur due to reasons such as the contract involving illegal activities, the parties lacking the capacity to contract (for example, minors or mentally incapacitated individuals), or if the purpose of the contract is against public policy. Because it is null from the beginning, neither party has any obligations or rights under a void contract, making it distinct from voidable contracts, which are valid until one party chooses to void them.

In contrast, a contract that is enforceable in court would be valid and a legal agreement. Contracts requiring notarization or those valid only in writing pertain to specific legal formalities but do not inherently determine the void status of a contract. Thus, the defining characteristic of a void contract is indeed that it cannot be enforced by either party.