On this page, you'll find the legal definition and meaning ofRescission, written in plain English, along with examples of how it is used. What is Rescission? (n) Rescission is the mutual agreement between the partied to an agreement or contract, deciding to nullify, cancel or otherwise term...
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Rescission can take place by mutual agreement of the parties, or it can be ordered by a court in cases where one of the parties breached the contract or where the agreement is deemed illegal or cannot be fulfilled. Examples of Rescind ...
Definition of Representation in Insurance Representation in insurance refers to the act of providing accurate and relevant information to the insurer during the process of entering into an insurance contract. It involves disclosing all material facts that may impact the insurer’s decision in providing ...
Rescission - This is a term used to describe the cancellation of a contract due to fraud, misrepresentation, or other factors that make the contract legally unenforceable. Termination Clause - Much like an escape clause, a termination clause provides a way out of a contract under certain circumst...
A U-shaped rescission features a steep decline in economic output followed by a relatively longer trough than a V-shaped recession, followed by a longer recovery out of that trough. The downturn here is usually deeper and longer than that of a V-shaped recession. ...
Public interest litigation (PIL) is a legal action taken in a court of law to safeguard or enforce public interest, particularly in human rights or equality issues of broad public concern. There is no globally agreed-upon definition of PIL, but it is defined as an opportunity to clarify, de...
It is up to the plaintiff to prove whether the breached aspect of the contract satisfies the definition of unique. However, specific performance is out of the question when various and continuous acts are contractually required. Contract Rescission and Reformation ...
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