Larry enters into a contract with Motivational Education Services to host a panel discussion at a sales conference. When the conference is postponed indefinitely, Larry asks a court to cancel the contract and return the parties to the positions that they held before its formation. This request involves

Question

Larry enters into a contract with Motivational Education Services to host a panel discussion at a sales conference. When the conference is postponed indefinitely, Larry asks a court to cancel the contract and return the parties to the positions that they held before its formation. This request involves​

Quizplus · Accepted Answer

This request involves rescission, which is the cancellation of a contract and the restoration of the parties to their original positions before the contract was formed. Larry is essentially asking to undo the contract and have any obligations or duties that were created by it eliminated. This is a type of remedy that is available in certain situations, such as when there has been a breach of contract or when circumstances have changed in a way that makes performance impossible or impractical.

Larry Enters into a Contract with Motivational Education Services to Host