This is the 9296th most frequent Japanese word.
白紙
"Blank sheet" or "blank slate."
In this sentence, '白紙' is used to describe an object (the contract) being blank or not yet completed.
契約書はまだ白紙の状態です。
The contract is still a blank state.
Here, '白紙' metaphorically represents a state of nullification or resetting to an undecided state.
彼の要望に従い、計画は白紙に戻された。
Following his request, the plan was reverted to a blank slate.
In this case, '白紙' conveys the idea of unrestricted freedom or no set constraints, often within the phrase '白紙委任'.