What is the difference between nullity and annullability?
Differences between nullity and annullability
The validity of contracts is a fundamental concept in the field of contract law, since for a contract to be legally binding, it must meet certain validity requirements. By virtue of article 1,261 of the Civil Code, the contract, to be valid, must meet the minimum requirements of concurrence of consent, object and cause. Given this, nullity and voidability are circumstances that affect the validity of contracts. While annulment presents strict consequences, those of annulment are more modifiable.
Here we tell you the main differences:
|It is the total invalidity of the legal act, which does not produce any legal effect.||It is the partial invalidity of the legal act, which can produce legal effects until its annulment is declared.|
|It is produced by a serious defect that affects the public interest or the essential norms of the legal system.||It is produced by a minor defect (a defect in the structure) that affects the private interest of the parties or the secondary rules of the legal system.|
|It cannot be corrected or validated by any means.||It can be corrected or validated by the confirmation of the parties, the passage of time (prescription) or the correction of the defect.|
|It can be declared ex officio by any competent body or at the request of a party, without a time limit. Does not prescribe.||It can only be declared at the request of a party, within a certain period. Prescribes at 4 years.|