A voidable contract is a legal agreement that remains valid until one party chooses to void it. This means that one or both parties have the option to cancel the contract due to certain circumstances, such as misrepresentation, undue influence, or lack of capacity. If the party with the right to void the contract decides to enforce it, the contract remains in effect. 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 because they lack the legal capacity to make binding agreements. This flexibility helps protect vulnerable parties in contractual relationships.