Which scenario can lead to a contract being deemed voidable?

A contract can be deemed voidable in situations of mutual mistake about a material fact because such a scenario reflects a lack of true agreement between the parties involved. When both parties enter into a contract under a shared misunderstanding of a fundamental aspect of the agreement—such as a significant detail that affects the rights, obligations, or value of the deal—this can impact the validity of the consent.

The key point is that both parties are misinformed about the same material fact, which can cause one or both parties to feel misled, thus providing grounds to rescind the contract. The law allows for voidability in this context to promote fairness and ensure that parties are held to agreements based on accurate, truthful information.

In contrast, a minor's contract for necessaries is usually enforceable to protect the needs of the minor, a legally insane person's contract is void, and vague terms might make a contract unenforceable but do not necessarily render it voidable. These differences emphasize the significance of mutual consent and accurate knowledge in effective contractual agreements.