What is a void contract?

A void contract is one that is not recognized by law and has no legal effect. This means that it cannot be enforced by either party, rendering it null from the start. The characteristics of a void contract may include situations where the subject matter is illegal, the parties lack the capacity to contract, or the contract was created under duress or coercion.

In contrast, a legally enforceable contract would have valid terms and conditions agreed upon by both parties, and one that is signed but not executed implies that it is still pending completion. A contract with stipulated conditions refers to agreements that depend on specific terms being met before they can become valid or enforceable. Hence, the correct choice accurately defines the nature of a void contract as one that is not recognized or enforceable by law.