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In the context of cut contracts, a contract can be valid, void, or voidable. A voidable contract allows one or both parties the option to make it void, meaning one party can declare it no longer valid. This typically occurs when a party lacks the capacity to contract, such as individuals under the age of majority (usually 18 years old), or if they have been defrauded or misled. For example, if a 17-year-old enters into a contract, they can choose to void the contract anytime before reaching 18, allowing them to reclaim their money or seek other remedies.
