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In today's video, the speaker discusses void agreements, void contracts, and illegal agreements. A void agreement is defined as one that is not enforceable by law; it exists as an agreement but does not qualify as a contract. Such agreements are void ab initio, meaning they have no legal effect from the outset. Examples include agreements with minors or individuals of unsound mind, who lack the capacity to contract. The video also differentiates between void agreements and void contracts. While some agreements never mature into contracts and are therefore void from the beginning, others may be valid at formation but can become void due to certain reasons later on.