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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 to choose to make the contract void. This situation typically arises when a party lacks capacity, is defrauded, or is misled in the agreement. For example, if a contract is made with someone under the age of majority (usually 18 years), that minor can later decide to void the contract at any point before reaching 18. This gives them the right to request a refund or to declare the contract invalid.
