Bankruptcy Section
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What is a voidable contract?
There are instances where a contract exists, but may be avoided by one party. Although a contract was formed, it can be later avoided because of a different reason, like when one contracts with a minor. For example, Boy and Girl enter into a written contract for the sale of his car to Girl for $475 and a bag of chips. Let us assume that Girl is only 15-years old and is a minor. Girl may elect to avoid the contract or ratify the contract.
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