Rescission refers to the cancellation of a contract and the restoration of the parties to their original positions. This means that all parties involved in the contract will be relieved of their obligations and will be restored to their pre-contractual positions.

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'Rescission' Is

Question 27

Multiple Choice

'Rescission' is:

A) the cancellation of a contract and the restoration of the parties to their original positions.
B) a court order requiring a party to perform the terms of the contract.
C) an order severing certain unenforceable terms from a contract and requiring performance of the remaining terms.
D) a declaration that a contract is valid and enforceable.

Correct Answer: