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Part I Introduction, 2 Rescission and Independent Claims

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: 23 April 2024

Remedies for breach of contract — Termination/unwinding of contract — Loss of profit and damages

This chapter focuses on recission and independent claims. It explains how a recission claim could trigger claims to damages or its equitable counterpart. A right to rescind is independent of the claimant’s rights to the damages in tort. The chapter then expounds on equitable compensation, which depends on the breach of fiduciary duty. Compensation is calculated according to the principles governing restitution and counter-restitution upon recission. The chapter looks into the seminal decision involving the Re Cape Breton Company’s case. It also considers the exceptions that limited the scope of the rule in Re Cape Breton Company, such as the sale of the principal’s own property and regular trade supplies.

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