A valid contract is one that is good it meets the requirements of law, a void contract, conversely. Is not good it is nullity and has no legal effect, an illegal contract, such as charging amount of greater interest than is allowed by law, is void. A voidable contract is one that may be disaffirmed or avoided by one of the parties, if he or she wishes, because of some rule of law that excuses that party performance. It is sometimes said that a voidable contract is one that valid unless voided. For example, a contract entered into between an infant and an adult is voidable, except necessities by the