Which of the Following Is True of Rescission

question 78

Multiple Choice

Which of the following is true of rescission?

• A) It is a court order compelling a party to perform in such a way as to meet the terms of the contract.
• B) It is sought by plaintiffs who wish to be in the position they were in before entering into the contract.
• C) It refers to the correction of terms in an agreement so that they reflect the true understanding of the parties.
• D) It is a temporary or permanent order of the court preventing a party to a contract from doing something.

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Definitions:

Breached the Peace

This term refers to actions or behaviors that disturb public order or tranquility, often used in legal contexts regarding disturbances of peace.

Financing Statement

A document filed by a creditor to indicate a security interest in the personal property of a debtor, used in securing loans.

Financing Statement

A form filed to give public notice of a secured party's interest in the debtor's collateral, facilitating the priority of claims in case of default.

Secured Interests

Interests in personal property or fixtures that secure payment or performance of an obligation, often seen in lending and financing agreements.