Super Toolmakers,Inc. ,contracts to sell its business to True Hardware Corporation.Before either party has performed,rescission of this contract requires
A)a mutual agreement to rescind.
B)consideration.
C)performance by all of the parties.
D)an accord and satisfaction.

Question

Quizplus · Accepted Answer

Rescission of a contract typically requires the mutual agreement of both parties to rescind, meaning they must both agree to cancel the contract. It does not typically require consideration or performance by all parties, nor does it require an accord and satisfaction. Instead, it simply requires both parties to agree to undo the agreement they previously made.