The Remedy of Rescission Is Not Available If the Parties

question 164

True/False

The remedy of rescission is not available if the parties cannot be returned to their original positions because the subject matter of the contract has been destroyed or damaged.

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Definitions:

Tangible Benefits

Refers to measurable and concrete advantages or gains resulting from an action or investment, such as cost savings or increased revenues.

Salary

A fixed regular payment, typically expressed on an annual basis, made by an employer to an employee, especially a professional or white-collar worker.

Health Insurance

A system of financial protection against medical expenses, where individuals or their employers pay premiums to an insurance company, which then covers eligible health care costs.

Foster Care

A temporary arrangement in which a child is placed under the care of a family or institution other than their parents or legal guardians.