0 the act of officially ending a law, taking back a decision, or saying that an agreement no longer exists
1 the act of officially ending a law, taking back a decision, or saying that an agreement no longer exists:
They thought that there would be a number of cases where the remedy of rescission might be too drastic in the circumstances.
The rescission of the resolution is part and parcel of that.
The manufacturer would be faced with a claim for rescission or for damages which would not be limited by the terms of the contract.
By the amendments, the right of rescission would be exercised within a reasonable period.
I will only say that as rescission is concerned, we now understand the point raised and will look at it.
If the misrepresentation was made negligently or fraudulently the buyer would have a right to damages and rescission of the contract.
I believe that the courts will be thoroughly capable of deciding when rescission is suitable and when damages are a more convenient alternative.
They do so in such a way that the relevant provisions would cease to have effect with the rescission of the resolution.
