If a contract has been created but did not come into existence, it is called voidable.

Name: If a contract has been created but did not come into existence, it is called voidable.
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Quizplus · Accepted Answer

A contract that did not come into existence is considered void, not voidable. Void contracts are agreements that lack legal effect from the beginning, whereas voidable contracts are valid agreements that can be legally voided at the option of one of the parties.

If a Contract Has Been Created but Did Not Come