Which of the following statements about a void contract is correct?

A void contract is one that is not legally enforceable and is treated as though it never existed. This means that it lacks any legal effect or binding obligations on the parties involved from the outset. Because a void contract has no legal standing, neither party can seek legal recourse for non-performance or breach of terms within that contract.

In contrast, other statements misrepresent the nature of void contracts. They cannot create obligations for the parties, as they are inherently invalid. Additionally, a void contract cannot be considered valid under any circumstances, since its invalidity is absolute and is not subject to confirmation or agreement by the parties. Furthermore, a void contract cannot be enforced by any party, regardless of whether one of them expresses a willingness to do so, because it carries no legal validity.