Home Forums Contract Act What is rescission of the contract?

1 reply, 2 voices Last updated by Adv. Priya Lohakare 6 months, 3 weeks ago
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  • #5064

    Vishesh lade
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    @vishesh@123

    What is rescission of the contract?

    • This topic was modified 5 months, 3 weeks ago by Forumeditor.
    • This topic was modified 5 months, 3 weeks ago by Taxolawgy.
    • This topic was modified 5 months, 3 weeks ago by Taxolawgy.
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    #5077

    Adv. Priya Lohakare
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    @priyalohakare

    The word rescission in simple words means cancellation or revocation. In the Indian Contract Act 1872 rescission has been defined as ‘unmaking’ of a contract by the parties. The rescission of contract is an equitable remedy and is discretionary in nature.

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