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Part IV Restitutio in Integrum, 17 Financial Adjustments

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: 18 April 2024

Subject(s):
Illegality and contract — Termination/unwinding of contract — Letters of indemnity and damages — Measure of indemnity and insurance — Interest

This chapter looks into financial allowances and adjustments made as an incident of the restoration of the parties to their original positions upon rescission. It clarifies that most types of allowances and adjustments are only available upon rescission in equity. Most of the time, the responsibility of proof will fall on the claiming party. Upon rescission, each party are mandated to account for the benefits upon gaining asset ownership. Benefits derived from land and chattels are some of the issues from restitution and counter-restitution that must be made upon rescission. The chapter then discusses joint acquisitions, interest, and indemnity to expound on restitution and counter-restitutions. It also considers the alteration of assets to impose compensation.

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