Rescission (contract law) - Wikipedia In contract law, rescission is an equitable remedy which allows a contractual party to cancel the contract Parties may rescind if they are the victims of a vitiating factor, such as misrepresentation, mistake, duress, or undue influence [1] Rescission is the unwinding of a transaction
Rescission - Definition, Examples, Cases, Processes - Legal Dictionary In contract law, the term “rescission” refers to the undoing, or “unmaking” of a contract between parties Rescission of a contract may be ordered by a court as an equitable remedy in a civil lawsuit, and is intended to bring the parties as close to the same position they were in before they entered into the contract as possible While
rescission | Wex | US Law | LII Legal Information Institute Recission is the cancellation of a contract A rescission may be unilateral , as when a party rightfully cancels a contract because of another party's material breach Rescission can also be mutual , as when the contracting parties agree to discharge all remaining obligations
Rescission in Contract Law: Rights, Grounds, and Processes - UpCounsel Rescission is a legal remedy that cancels a contract and restores parties to their pre-contractual positions Common grounds for rescission include misrepresentation, fraud, undue influence, and mutual mistake Rescission can be achieved through mutual agreement or judicial intervention
Rescission vs. Termination: Key Legal Differences Explained Rescission nullifies a contract, reinstating parties to their pre-contractual positions, often due to invalid formation or unmet obligations Termination, in contrast, concludes the contract, ceasing all obligations under its terms