Contracts & ExecutionQuestion 811 of 1605
Rescission as a contract remedy means:
a.Awarding double the contract price
b.Canceling the contract and restoring the parties, as far as possible, to their pre-contract positions
c.Adding new terms to the contract
d.Forcing the other party to complete performance
Explanation
Rescission cancels the contract and seeks to return both parties to the positions they held before contracting, often requiring the return of money or property exchanged (restitution). It is the opposite of specific performance, which compels completion. Rescission neither adds terms nor awards multiplied damages; it unwinds the deal, and is available for grounds such as fraud, mistake, or material breach.
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Reviewed by Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — verify)