A voidable contract is a type of agreement that remains valid until one party chooses to void it. This means that while the contract is legally binding, one party has the right to cancel it due to certain circumstances, such as misrepresentation, undue influence, or lack of capacity. In a voidable contract, the affected party can either affirm the contract or reject it. For example, if a minor enters into a contract, they can choose to void it when they reach adulthood. This flexibility protects individuals from being unfairly bound by agreements made under specific conditions.