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 meaning of RESCISSION is an act of rescinding.

2015年2月14日 · 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 ...

2024年4月17日 · Rescission is when a contract is rendered null, void, and no longer legally binding. The courts can free non-liable parties from their agreed obligations and, when possible,...

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.

2018年9月13日 · To rescind something in law means to invalidate it. Examples of rescission often come up in contract law, as parties may decide to void, or rescind, a contract they had previously entered into. The parties can either agree between themselves to rescind the contract, or they can bring the matter before the court and have a judge sign off on it.

2022年9月19日 · Rescission is an equitable remedy that voids or annuls the terms of a contract. It is granted to a litigant in cases of innocent misrepresentation, fraud, or any other action on behalf of a defendant that calls into question the legality of the bargain or which constitute unconscionable and undue influence.

A mutual mistake concerning a material fact entitles the party affected by the mistake to rescind the contract, unless the contract has already been completed and rescission would be an injustice to the other party. Rescission can also be allowed even for a unilateral, or onesided, mistake in order to prevent an Unjust Enrichment of the other ...

Find the legal definition of RESCISSION from Black's Law Dictionary, 2nd Edition. Rescission, or the act of rescinding, is where a contract is canceled, annulled, or abrogated by the parties, or one of them.

RESCISSION meaning: 1. the act of officially ending a law, taking back a decision, or saying that an agreement no…. Learn more.