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 moreIn contract law, the term “rescission” refers to the undoing, or “unmaking” of a contract between parties. Rescission of a contract may be ordered by a court as an equitable remedy in a civil lawsuit, and is intended to bring the parties as close to the same position they were in before they entered into the contract as possible. While […]
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