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Part IV Restitutio in Integrum, 15 Mutual Restitution: Rescission in Equity

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

Illegality and contract — Termination/unwinding of contract — Validity of contract — Transfer of title

This chapter explores mutual restitution which primarily occurs when a transaction is set aside in equity. It considers the restitution of benefits conferred by the party who rescinds and the obligation of that party who can make counter-restitution for benefits that they received under the transaction. Property, money, and services are treated separately. Meanwhile, principles governing mutual restitution when rescission in equity follows an election to disaffirm due to uncertainties. The chapter then highlights interest, rent, dividend, and other benefits representing the time value of assets, compensation for deterioration, indemnity, and financial adjustments. It also covers equitable rescission through the election in terms of restitution and counter-restitution.

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