Rescission (Contract) - Explained
What is Rescission of a Contract?
- Marketing, Advertising, Sales & PR
- Accounting, Taxation, and Reporting
- Professionalism & Career Development
-
Law, Transactions, & Risk Management
Government, Legal System, Administrative Law, & Constitutional Law Legal Disputes - Civil & Criminal Law Agency Law HR, Employment, Labor, & Discrimination Business Entities, Corporate Governance & Ownership Business Transactions, Antitrust, & Securities Law Real Estate, Personal, & Intellectual Property Commercial Law: Contract, Payments, Security Interests, & Bankruptcy Consumer Protection Insurance & Risk Management Immigration Law Environmental Protection Law Inheritance, Estates, and Trusts
- Business Management & Operations
- Economics, Finance, & Analytics
- Courses
What is Rescission of a Contract?
Rescission simply refers to the cancellation or termination or a contract by an individual. More specifically, in contract law, rescission is the right held by individuals which allows them to cancel or repeal the terms of a contract, hence, returning it to the state maintained before the agreement was made.
Rescission can also be regarded as an act of unwinding a contract. When a contract is rescinded, its terms are cancelled or repealed by a party.
Back To: COMMERCIAL LAW: CONTRACTS, PAYMENTS, SECURITY INTERESTS, & BANKRUPTCY
Related Topics