Question

what is rescission of contract ​

Answer 1

⚡ɪɴ ᴄᴏɴᴛʀᴀᴄᴛ ʟᴀᴡ, ʀᴇsᴄɪssɪᴏɴ ʜᴀs ʙᴇᴇɴ ᴅᴇғɪɴᴇᴅ ᴀs ᴛʜᴇ ᴜɴᴍᴀᴋɪɴɢ ᴏғ ᴀ ᴄᴏɴᴛʀᴀᴄᴛ ʙᴇᴛᴡᴇᴇɴ ᴘᴀʀᴛɪᴇs. ʀᴇsᴄɪssɪᴏɴ ɪs ᴛʜᴇ ᴜɴᴡɪɴᴅɪɴɢ ᴏғ ᴀ ᴛʀᴀɴsᴀᴄᴛɪᴏɴ. ᴛʜɪs ɪs ᴅᴏɴᴇ ᴛᴏ ʙʀɪɴɢ ᴛʜᴇ ᴘᴀʀᴛɪᴇs, ᴀs ғᴀʀ ᴀs ᴘᴏssɪʙʟᴇ, ʙᴀᴄᴋ ᴛᴏ ᴛʜᴇ ᴘᴏsɪᴛɪᴏɴ ɪɴ ᴡʜɪᴄʜ ᴛʜᴇʏ ᴡᴇʀᴇ ʙᴇғᴏʀᴇ ᴛʜᴇʏ ᴇɴᴛᴇʀᴇᴅ ɪɴᴛᴏ ᴀ ᴄᴏɴᴛʀᴀᴄᴛ (ᴛʜᴇ sᴛᴀᴛᴜs ǫᴜᴏ ᴀɴᴛᴇ.❤

Answer 2

Answer:

In contract law, recession has been defined as the unmaking of a contract between parties. Rescission is the unwinding of a transaction. this is done to be bring the parties , as for as possible , back to the position in which they where before they entered into contract..

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