What is the legal status of a contract signed by a person suffering from mental illness?

When considering the legal status of a contract signed by a person suffering from mental illness, it is classified as voidable. This means that the contract remains valid and enforceable unless the person affected by the mental illness chooses to void it.

In the context of contract law, individuals who are mentally competent have the capacity to enter into binding agreements. However, when a person is suffering from a mental illness to the extent that it affects their ability to understand the nature and consequences of the agreement they are making, they may have the right to rescind the contract. This right to void the contract is not automatic but must be exercised by the individual or their legal representative.

The concept behind this is to protect individuals who may not fully understand their actions or the implications of the contract they are entering into due to their mental state. Therefore, while the contract is not outright void like one that is illegal or fails to meet certain legal standards, it can be invalidated at the discretion of the person suffering from mental illness, making it voidable instead.