Which of the following is true of rescission?
A) It is a court order compelling a party to perform in such a way as to meet the terms of the contract.
B) It is sought by plaintiffs who wish to be in the position they were in before entering into the contract.
C) It refers to the correction of terms in an agreement so that they reflect the true understanding of the parties.
D) It is a temporary or permanent order of the court preventing a party to a contract from doing something.

Question

Quizplus · Accepted Answer

Rescission is a legal remedy sought by a party to a contract in order to have the contract canceled and be placed back in the position they were in before the contract was made. Option A describes specific performance, option C describes reformation, and option D describes an injunction.

Which of the Following Is True of Rescission