Asked by Mamik Luthra on Sep 30, 2024
A person who rescinds a contract must:
A) offer to return everything that he received from the other party.
B) return 50% of the items that he received from the other party.
C) return everything that he received from the other party.
D) return nothing.
Rescinds Contract
The act of officially cancelling or terminating a contract by mutual agreement of the parties involved or due to some legal reason.
Other Party
In legal or contractual language, this term refers to an entity or person aside from the one being directly addressed or previously mentioned.
- Differentiate the processes involved in rescinding versus ratifying a contract.
- Familiarize yourself with the legal consequences and corrective actions associated with acts of misrepresentation and fraud.
Learning Objectives
- Differentiate the processes involved in rescinding versus ratifying a contract.
- Familiarize yourself with the legal consequences and corrective actions associated with acts of misrepresentation and fraud.
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