What defines a void contract?

A void contract is one that lacks legal effect from the moment it is created. This means that it does not grant rights or impose obligations on any of the parties involved. Such a contract is essentially treated as if it never existed in the eyes of the law.

The characteristics of a void contract typically stem from factors that prevent it from being legally enforceable, such as illegality, lack of capacity, or uncertainty. Since it does not confer any benefits to the parties nor does it require them to fulfill any duties, it is accurate to state that it does not grant rights to any party, which makes the chosen answer correct.

In contrast, a legally enforceable contract inherently provides rights and obligations to the parties involved, hence the other options describing enforceability or rights are not applicable to void contracts.