Rescission
Rescission is the process of returning both parties to a contract to the position they would have been in had they not entered into a contract. If a contract is rescinded, it is treated as if it did not exist.
This might be appropriate for example if there has been a serious error in a contract or if one of the parties to the contract has made false representations.
However, circumstances often make it impossible to rescind a contract, for example where works have already been commenced, in which case damages may be awarded.
NB Where one party behaves in such a way that it indicates it no longer intends to accept its obligations under the contract, this is considered to be a repudiatory beach (or fundamental breach) allowing the innocent party to terminate the contract and to sue for damages. This is not rescission, as the parties are not returned to the position they would have been in had they not entered into the contract.
[edit] Related articles on Designing Buildings Wiki
Featured articles and news
What it is and how to use it.
Investors in People: CIOB achieves gold
Reflecting a commitment to employees and members.
Scratching beneath the surface; a guide to selection.
ECA 2024 Apprentice of the Year Award
Entries open for submission until May 31.
UK gov apprenticeship funding from April 2024
Brief summary the policy paper updated in March.
For the World Autism Awareness Month of April.
70+ experts appointed to public sector fire safety framework
The Fire Safety (FS2) Framework from LHC Procurement.
Project and programme management codes of practice
CIOB publications for built environment professionals.
The ECA Industry Awards 2024 now open !
Recognising the best in the electrotechnical industry.
Sustainable development concepts decade by decade.
The regenerative structural engineer
A call for design that will repair the natural world.
Buildings that mimic the restorative aspects found in nature.
CIAT publishes Principal Designer Competency Framework
For those considering applying for registration as a PD.
BSRIA Building Reg's guidance: The second staircase
An overview focusing on aspects which most affect the building services industry.
Design codes and pattern books
Harmonious proportions and golden sections.
Introducing or next Guest Editor Arun Baybars
Practising architect and design panel review member.
Comments
To start a discussion about this article, click 'Add a comment' above and add your thoughts to this discussion page.