A void contract is a formal agreement that is in fact illegal and unenforceable from the moment it was entered into.
An invalid contract is different from a voidable contract, although both can indeed be annulled for similar reasons.
A contract may be declared invalid if it is not enforceable in the form in which it was originally written.
Invalid contracts may occur when one of the parties involved is unable to fully understand the consequences of the agreement, for example, when a mentally handicapped or intoxicated person may not be consistent enough to adequately understand the parameters of the agreement, rendering it invalid.
Agreements entered into by minors or for illegal activities may also be declared invalid.
White collar crime is a non-violent crime of deception or concealment in order to obtain or prevent the loss of money or gain personal or business gain.
Black money includes all funds earned as a result of illegal activities, as well as other legitimate income that is not taken into account for tax purposes.
A boiler room is a scheme in which sellers use high-pressure selling tactics to persuade investors to buy securities, including speculative and fraudulent securities.
Channel stuffing refers to the practice of a company supplying more products to distributors and retailers through a distribution channel than end users can purchase in a reasonable amount of time.
A High Yield Investment Program (HYIP) is a fraudulent investment scheme that aims to generate extremely high returns in excess of 100% on investments.
A letter scam in Nigeria is a scheme in which a sender offers someone a commission - usually via email - for helping them transfer a large amount of money.
Racketeering is the acquisition of a business through illegal activities, the conduct of a business with illegal income, or the use of a business to commit illegal activities.