Here’s our weekly interaction with our clients:
#NPPE
Q: Could you please explain or elaborate what differences are among rescission, terminate, end and cancellation of a contract. I thought these words are used interchangeably but some practice questions ask me to choose the most correct one.
A: Rescission: Rescission is the act of canceling a contract and returning both parties to their original positions. It often occurs when there is a misrepresentation or fraud involved in the agreement. You can look up Ennis v. Klassen case to get a better grasp. This is also discussed on page 179 of the Law book (Practical Law for Architecture, Engineering, and Geoscience, 4th edition).
Terminate: To...