Which term refers to a contract that appears valid but can be disaffirmed under certain conditions?

A contract that is described as voidable is one that appears valid and enforceable but can be legally disaffirmed or canceled by one of the parties under specific circumstances. This can happen for various reasons, such as the absence of capacity to contract (like in cases involving minors), fraud, undue influence, or misrepresentation.

In such instances, even though the contract is initially considered valid, the affected party has the right to rescind the agreement if they choose to do so. This option of disaffirming the contract provides a level of protection to vulnerable parties or those who entered into the agreement under duress or without full understanding.

In contrast, a void contract is one that is not legally enforceable from the moment it is created, while a rescindable contract typically relates to the ability to overturn a contract that is valid, depending on specific terms or conditions being met. A legal contract, meanwhile, simply denotes an agreement that meets all the legal requirements and is enforceable.