What term is used for a contract that remains valid unless one party chooses to void it?

The term that describes a contract that remains valid unless one party chooses to void it is "voidable." A voidable contract is one that is legally binding and enforceable, but one party has the right to cancel or void the contract due to certain circumstances, such as misrepresentation, coercion, or a lack of capacity. This means that until the party with the right to void the contract exercises that option, the contract will remain in effect.

In contrast, enforceable contracts are those that can be upheld in a court, but they are not inherently voidable unless specific conditions are met. Executed refers to a contract that has been fully performed by all parties involved, whereas discharged pertains to the termination of a contract due to fulfillment of obligations or other reasons. Therefore, "voidable" is the precise term that captures the nature of a contract that can be invalidated at the discretion of one party.