Which of the Following Statements Is TRUE with Respect to the Word

question 62

Multiple Choice

Which of the following statements is TRUE with respect to the word "rescission"?

• A)Rescission always arises as a result of a contractual defect.
• B)Rescission is the name of the process that allows a contract to be discharged after one party has breached a serious term of the contract.
• C)Depending upon the circumstances, rescission may involve either a bilateral agreement to discharge a contract or a unilateral decision to terminate a contract.
• D)Rescission eliminates the need to perform outstanding primary obligations, but it does not affect secondary obligations.
• E)Rescission always requires the supply of fresh consideration.