Rescission (contract law)
Remedy which allows a contractual party to cancel the contract / From Wikipedia, the free encyclopedia
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For American presidential procedure, see Rescission bill.
In contract law, rescission is an equitable remedy which allows a contractual party to cancel the contract. Parties may rescind if they are the victims of a vitiating factor, such as misrepresentation, mistake, duress, or undue influence.[1] Rescission is the unwinding of a transaction. This is done to bring the parties, as far as possible, back to the position in which they were before they entered into a contract (the status quo ante).