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Rescission at common law (as distinct from rescission in equity) is a self-help remedy: historically, the common law courts simply gave effect to the rescinding party's unequivocal election to rescind the contract. Rescission at common law is only available for fraudulent misrepresentations and duress.
The right of rescission allows homeowners to back out of certain refinance, home equity loan and HELOC contracts and get all of their money back. You can only exercise this right for three ...
Building contingencies into the contract: Most real estate contracts have contingencies that give sellers cause to back out. For instance, the seller may say they will only sell their property if ...
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 ...
A mutual mistake occurs when the parties to a contract are both mistaken about the same material fact within their contract. They are at cross purposes. There is a meeting of the minds, but the parties are mistaken. Hence the contract is voidable. Collateral mistakes will not afford the right of rescission. A collateral mistake is one that ...
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North Dakota rescinding in 2001 (Senate Concurrent Resolution No. 4028) [POM-8, Volume 147 Congressional Record, page 5905]; but a decade later, in 2011, North Dakota lawmakers submitted to Congress two applications—one asking for a convention relative to an amendment requiring that a majority of the state legislatures approve any increase in ...
The California Consumers Legal Remedies Act ("CLRA") is the name for California Civil Code §§ 1750 et seq. [1] The CLRA declares unlawful several "methods of competition and unfair or deceptive acts or practices undertaken by any person in a transaction intended to result or which results in the sale or lease of goods or services to any consumer". [2]
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