Able to be later voided or nullified; a valid act that may achieve what its purpose was until its fatal flaw is discovered or takes effect and causes it to be voided. For example, a minor may enter into an agreement with a book club and not buy the number of books she contracts to. When the book club tries to recover the remaining part of the contract, the minor repudiates it and it becomes void, because a minor may not make a valid contract. voidable preference. Bankruptcy term referring to ...