In connection with a contract,what is rescission?

Question

Quizplus · Accepted Answer

Rescission refers to the undoing or cancellation of a contract, which means that the parties involved are released from their obligations and responsibilities under the agreement. This may occur due to a breach of contract or some other legal grounds, and often involves returning any consideration exchanged between the parties. A court order to perform contractual duties (A) is not related to rescission. The formation of a second identical contract (D) would be a new agreement, not rescission.

In Connection with a Contract,what Is Rescission