What is the difference between a void contract and a voidable contract quizlet?

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What is the difference between a void contract and a voidable contract?

The main difference between void and voidable contracts is that a void contract is invalid from the time it is created. A voidable contract, on the other hand, remains valid until the dissatisfied party cancels the contract if certain conditions are not met.

What are the differences among valid void and voidable contracts quizlet?

What are the differences among valid, void, and voidable contracts? A valid contract means it is legally binding, a void contracts have no legal effect, and a voidable contract is when a party can void or cancel the contract for some legal reason.