Rescission Is an Equitable Remedy Which Enables Both Parties to a Contract

question 4

True/False

Rescission is an equitable remedy which enables both parties to a contract to be restored to their pre-contract positions in the event that one party commits a repudiatory breach of contract.

---

Definitions:

Prospective Partner

An individual or entity being considered for a potential partnership or collaborative relationship.

Unreasonable Liability

A legal responsibility or obligation that is excessively burdensome or unfair under the circumstances.

Respondeat Superior

A legal doctrine that holds an employer or principal legally responsible for the wrongful acts of an employee or agent, when such acts occur within the scope of the employment or agency.

Liability

Refers to the legal responsibility for one's acts or omissions.