There are many reasons attributed to a voidable contract. It is a situation where one party of the contract may repudiate it. A contract involving minors is an example of voidable contract. Although minors can enter into contracts, these agreements cannot be enforced, as minors are at liberty to change their stand.
While a void contract is nonexistent and cannot be upheld by any law, a voidable contract is an existing contract, and is binding to at least one party involved in the contract.