To rescind a contract, the parties must make a second agreement that satisfies the legal requirements for a contract.

Question

To rescind a contract, the parties must make a second agreement that satisfies the legal requirements for a contract.​

Quizplus · Accepted Answer

Rescinding a contract means cancelling or nullifying it. This can only be done by entering into a new agreement that is binding and satisfies the legal requirements for a contract, such as mutual assent, consideration, and capacity. Therefore, the statement is true.

To Rescind a Contract, the Parties Must Make a Second