Legally, an agreement not concluded means that the contract or agreement is no longer applicable.3 min reads A countervailable contract is a valid contract until the option to avoid it is used by the party that has the option. Another common reason for an unde concluded contract is the impossibility of performance. This happens when one aspect of the treaty becomes impossible by one of the parties. If a creditor is surreptitiously paid or favoured, other creditors can cancel the agreement because the law protects creditors from unequal treatment. The preferred creditor cannot enforce or cancel the agreement. .