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In the context of contracts, they can be classified as valid, void, or voidable. A voidable contract allows one or both parties the option to declare the contract void. This typically occurs when a party lacks capacity, is defrauded, or is misled. For instance, a minor—someone under the age of majority, often 18—can void a contract. If a contract is made with a 17-year-old, they can choose to void the contract before reaching 18, seeking a refund or other remedies. Thus, the voidable nature provides protection to parties lacking the legal capacity to contract.