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Part III Rescission By Election and By Court Order, 12 Extinction of the Contract

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: 19 April 2024

Subject(s):
Avoidance of contract — Illegality and contract — Termination/unwinding of contract — Validity of contract

This chapter studies situations when a contract comes to be set aside ab initio. It explains how a contract would be automatically extinguished as soon as the innocent party chooses to disaffirm it when a contract is voidable at common law. After the consideration of common law, the chapter looks at the position where a transaction could only be voidable in equity. While fraud primarily gives a right to rescind, it is the transaction’s rescission that provides a defence. The chapter then covers the practice of issuing injunctions in an effort to restrain action at law from becoming redundant after the Judicature reforms. It also looks into the discretion used to grant rescissions.

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