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In the context of cut contracts, contracts can be valid, void, or voidable. A voidable contract allows one or both parties the option to declare it void. This typically occurs when one party lacks capacity, is defrauded, or enters into the contract due to misrepresentation. For example, if a minor (under 18 years old in most jurisdictions) enters into a contract, they can void the contract at any time before reaching the age of majority. In such cases, the minor can request a refund or other remedies.