Rescission of a Contract Occurs When Two Parties Mutually Agree

question 41

True/False

Rescission of a contract occurs when two parties mutually agree to cancel a contract they had previously made.

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Definitions:

Supreme Law

Refers to the highest form of law in a legal jurisdiction, to which all other laws must conform and in accordance with which they must be interpreted.

Preponderance of Evidence

The standard of proof in most civil cases, requiring that the case is more likely to be true than not true.

Executive Law

Legislation that outlines the powers and responsibilities of the executive branch of government and its officers.

Supreme Court

The highest federal court in the United States, which has ultimate appellate jurisdiction over all federal court and state court cases that involve a point of constitutional or federal law.