A voidable contract is?

A voidable contract is characterized by the presence of factors that allow one or both parties to affirm or reject the contract. It is considered valid and enforceable until it is rescinded by the party who holds the right to do so. This often arises in situations involving misrepresentation, undue influence, or a party's incapacity, where one party can choose to void the agreement based on certain legal grounds.

In the context of the other options: while a voidable contract is enforceable initially, it is not void, and it can later be invalidated at the discretion of one of the parties, which is why the correct distinction lies in its rescindability. Therefore, the essence of a voidable contract is that it grants the right to one party to terminate the contract while still being valid until that point.