Exceptions to the preexisting duty rule include rescission.

Name: Exceptions to the preexisting duty rule include rescission.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Rescission is an exception to the preexisting duty rule because it allows the parties to a contract to mutually agree to cancel their original contract and enter into a new one, thus creating new obligations that were not present in the original agreement.

Exceptions to the Preexisting Duty Rule Include Rescission