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LSDefine

Simple English definitions for legal terms

Rescission

Read a random definition: fossage

A quick definition of Rescission:

Rescission: When you cancel a contract, it's called rescission. This can happen if one party breaks the contract or if both parties agree to end it. Sometimes, a court might cancel a contract if it goes against the law or what's best for everyone.

A more thorough explanation:

Definition: Rescission means to cancel a contract. This can happen in different ways:

  • Unilateral rescission: when one party cancels the contract because the other party broke an important part of the agreement.
  • Mutual rescission: when both parties agree to cancel the contract and no one has to do anything else.
  • Court-ordered rescission: when a court decides that a contract is not valid because it goes against the law or public policy.

For example, if you hire a contractor to build a house and they don't finish the work on time or do a bad job, you might be able to cancel the contract and get your money back. This is unilateral rescission. If you and the contractor both agree that they won't finish the work and you won't pay them any more money, that's mutual rescission. And if a court decides that a contract is illegal, like if you sign a contract to sell drugs, the court can order rescission and the contract will be cancelled.

Rescind | rescue doctrine

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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