What is the implication of a contract being "voidable"?

A contract being "voidable" implies that it is initially valid and enforceable, but one party has the legal right to cancel or rescind the contract due to specific circumstances, such as misrepresentation, undue influence, or the party being a minor. This unilateral right means that only the affected party can choose to void the contract; the other party remains bound unless the contract is formally voided.

This characteristic of voidable contracts empowers one party with the option to affirm or reject the contract based on their situation, which is crucial in understanding the dynamics of enforceability and obligations in contract law. It distinguishes voidable contracts from void contracts, which are inherently invalid from the outset, with no enforceability by either party. Therefore, the correct answer reflects the unilateral nature of the right to void the agreement.