Voidable

Definition

• When an individual or party involved in a contract is entitled to renege or retract the contract at his or her discretion.

Synonyms
rendered void, rescindable, annulled, contractual condition

Related Terms and Acronyms

• Blank Cheque — Definition,
  • A cheque that does not have a dollar amount written on it.
• Breach of Contract (BOC) — Acronym,
  • Failure to abide by terms of a legal agreement without a legal excuse.
• Contract — Definition,
  • An agreement between two or more parties that can be enforced by law.
• Void — Definition,
  • Of no legal effect. A nullity.
• Void Cheque — Definition,
  • A check with the word "VOID" written on the face that cannot be cashed.