________ Is an Action to Undo a Contract

question 12

Multiple Choice

________ is an action to undo a contract.

• A) Rescission
• B) Recession
• C) Restitution
• D) Retribution

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Definitions:

Donee Beneficiary

A third party who benefits from a contract made between two other parties.

Incidental Beneficiary

A third party who benefits from a contract between two other parties, despite not being a party to that contract and having no rights to enforce the terms of the contract.

Intended Beneficiary

A person or entity that is not a party to a contract but stands to benefit from the contract's performance.

Obligor

A contractual party who agrees to do something for the other party.