Which describes a contract that is still binding but has a flaw?

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Multiple Choice

Which describes a contract that is still binding but has a flaw?

Explanation:
A contract that is still binding but has a flaw is voidable. It means the agreement has formed valid duties and can be enforced, but one party has a legal option to cancel the contract because of a defect such as misrepresentation, lack of capacity (being a minor or mentally impaired), duress, or undue influence. Until that party exercises the right to void, the contract remains in effect for both sides. This differs from an executed contract, which has been fully performed; a void contract, which never had legal effect from the start; and an unenforceable contract, which could be valid but cannot be enforced due to a legal defense (like the statute of frauds).

A contract that is still binding but has a flaw is voidable. It means the agreement has formed valid duties and can be enforced, but one party has a legal option to cancel the contract because of a defect such as misrepresentation, lack of capacity (being a minor or mentally impaired), duress, or undue influence. Until that party exercises the right to void, the contract remains in effect for both sides.

This differs from an executed contract, which has been fully performed; a void contract, which never had legal effect from the start; and an unenforceable contract, which could be valid but cannot be enforced due to a legal defense (like the statute of frauds).

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