Which term describes a contract that can be voided by one party due to specific conditions?

A contract that can be voided by one party due to specific conditions is referred to as "voidable." This type of contract remains valid and enforceable unless the party with the option to void it chooses to exercise that right. Common scenarios that lead to a contract being voidable include situations involving misrepresentation, fraud, duress, or when one party is a minor. The key characteristic of a voidable contract is the existence of an option for one party to enforce or rescind the agreement based on circumstances that undermine their ability to freely consent to the terms.

In contrast, a "void" contract is one that lacks legal force from the moment it is created, meaning it cannot be enforced by either party. An "executed" contract refers to a contract that has been fully performed by all parties, while an "express" contract is one where the terms are explicitly stated, either orally or in writing. Understanding the distinctions between these terms is crucial in grasping contract law.