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Part I Introduction, 1 Core Distinctions

Dominic O’Sullivan

From: The Law of Rescission (3rd Edition)

Dominic O'Sullivan KC, Steven Elliott KC, Rafal Zakrzewski

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 03 March 2024

Subject(s):
Avoidance of contract — Breach of contract — Damages and contract — Frustration and contract — Performance of contract — Remedies for breach of contract — Termination/unwinding of contract

This chapter introduces the concept of rescission. It starts with the definitions of recissions correlating to ab initio and de futuro. Ab initio refers to the recission of a contract for fraud and other vitiating events from the beginning, while de futuro refers to when a contract had been brought to conclusion for subsequent breach or frustration. The law of recission primarily focuses on voidable contracts instead of void contracts or contracts that are ineffective until ratified. The chapter then discusses the similarities and differences of the law of recission within the US and the UK. It also looks into the rescission and transactions ineffective in equity.

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