What is the difference between void and voidable contracts?

Question

What is the difference between void and voidable contracts?

Answer 1

a void contract is void ie it automatically has no effect and neither party can enforce it.

If a contract is voidable, then one or either party has the right to bring it to an end, but does not have to.

Answer 2

A contract that goes against public policy or violates existing laws is void, it cannot be enforced.

A contract that has conditions written into the contract that must be met can be voidable.

In insurance that can be as simple as paying the premium. If you submit a check to cover the insurance premium with your application and the check is not valid the contract is voidable. If you misrepresented the facts in your application the contract is voidable.