A Special Assessment District (S.A.D.) is a geographic area in which the market value of real estate is enhanced due to the influence of a public improvement and in which a tax is apportioned to recover the costs of the public improvement.
Void, voidable, and unenforceable contracts: (1) A void contract is one without any legal effect from the beginning. (2) A voidable contract is one that a party may elect to avoid or ratify. (3) An unenforceable contract is one otherwise valid but for which some defense exists extraneous to formation.
DEFINITION of 'Void Contract'. A formal agreement that is illegitimate and unenforceable from the moment it is created.A void contract could be considered void for a number of reasons.he fundamental difference between these two types of contracts is that a void contract is not legally valid or enforceable at any point in its existence, while a voidable contract can be legal and enforceable depending on how the contract defect is handled. RELATED TERMS.