The Law Dictionary for Everyone
The term “rescind” is used to describe the act of canceling a contract that had been previously agreed to. In contract law, this is referred to more fully as “rescission.” The purpose of a rescission is to start over with a clean slate, to allow the parties to return to the status quo that existed before the agreement was made. […]
Read moreFollowing is the case brief for Stambovsky v. Ackley, 169 A.D.2nd 254 (NY App. Div. 1991) Case Summary of Stambovsky v. Ackley: Plaintiff Stambovsky sued to rescind a real estate contract when he learned that the house was supposedly haunted, impacting its value. The trial court dismissed the action, finding no remedy at law. The appeals court modified the judgment. It […]
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