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Simple English definitions for legal terms

agreement of rescission

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A quick definition of agreement of rescission:

An agreement of rescission is when two people agree to cancel a contract they made before. This can happen if one person breaks the rules of the contract or if they both decide they don't want to do it anymore. When they cancel the contract, they have to give back anything they got from each other. Sometimes a court can make them cancel the contract if it's not fair.

A more thorough explanation:

An agreement of rescission is a legal term that refers to an agreement between two parties to terminate a contract and discharge all remaining duties of performance. This can happen for various reasons, such as a breach of contract or a mutual decision to end the agreement.

For example, if two parties enter into a contract for the sale of goods, but one party fails to deliver the goods as promised, the other party may seek rescission of the contract. This would involve terminating the contract and returning any partial performance, such as a deposit or payment, to restore the parties to their pre-contractual positions.

Rescission can also be decreed by a court of equity, which is a court that can provide remedies beyond what is available in a court of law. In this case, the court may order rescission if it determines that the contract was entered into under duress, fraud, or other circumstances that make it unfair or unjust.

It's important to note that rescission is generally only available as a remedy or defense for a non-defaulting party. In other words, if one party breaches the contract, the other party may seek rescission, but the breaching party cannot use rescission as a defense.

agreement of imperfect obligation | agreement of sale

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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