ContractsCâu 61 / 120
If a buyer and seller mutually agree to cancel their contract and return to their pre-contract positions, this is called:
a.Rescission
b.Novation
c.Specific performance
d.Assignment
Giải thích
Rescission is the cancellation of a contract that returns the parties to their original positions, as if the contract had not been made. It can be mutual or, in some cases, granted by a court. Any consideration exchanged is typically returned.
Luyện miễn phí toàn bộ 120 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A listing agreement in which the broker earns a commission only if that broker procures the buyer, but the seller may also sell independently without owing a commission, is a(n):
- Under an 'exclusive right to sell' listing, the listing broker earns a commission:
- A 'net listing,' which is discouraged or restricted in many jurisdictions, is one in which:
- The transfer of one's rights and obligations under a contract to another person is called:
- A contract signed by a minor is generally considered:
- 'Time is of the essence' in a real estate contract means:
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