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Rescission is an equitable remedy and is discretionary. [4] It is used as a synonym for termination at law. A court may decline to rescind a contract if one party has affirmed the contract by his action, [5] or a third party has acquired some rights or there has been substantial performance in implementing the contract.
Equitable remedies are distinguished from "legal" remedies (which are available to a successful claimant as of right) by the discretion of the court to grant them. In common law jurisdictions, there are a variety of equitable remedies, but the principal remedies are: injunction [5] [6] specific performance; account of profits; rescission ...
Rescission can be effected either by informing the representor or by requesting an order from the court. Rescission is an equitable remedy which is not always available. [77] Rescission requires the parties to be restored to their former positions; so if this is not possible, rescission is unavailable. [78]
The right of rescission gives you the legal grounds to rescind (hence the name) your portion of certain home financing agreements. In other words, a rescission, in mortgage speak, is your chance ...
Equitable rescission; Equitable rescission gives the innocent plaintiff the right to undo or rescind a contract when the plaintiff entered the contract as a result of fraud, misrepresentation, etc., or when the contract has been breached by the other party. To restore the situation to what it was before the contract, both parties need to return ...
In the event of a breach of contract, the injured party may seek judicial remedies such as damages or equitable remedies such as specific performance or rescission. [2] A binding agreement between actors in international law is known as a treaty .
innocent misrepresentation, mistake, rescission Leaf v International Galleries [1950] 2 KB 86 is an English contract law case concerning misrepresentation , mistake and breach of contract , and the limits to the equitable remedy of rescission .
Homeopathic Remedies. None of the homeopathic remedies sold in pet stores to treat dogs with cancer are going to help your dog (2). Fortunately, they are not going to hurt your dog, as by the time ...