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In contract law, rescission is an equitable remedy which allows a contractual party to cancel the contract. Parties may rescind if they are the victims of a vitiating factor, such as misrepresentation, mistake, duress, or undue influence. [1] Rescission is the unwinding of a transaction.
There are two types of quasi-contract. One is an action in restitution. The other is unjust enrichment. Note, therefore, that it is improper to say that quasi-contract, implied in law contract, and unjust enrichment are all synonymous, because unjust enrichment is only one type of the broader category of quasi-contracts (contracts implied in ...
Breach of contract is a legal cause of action and a type of civil wrong, in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other party's performance. Breach occurs when a party to a contract fails to fulfill its obligation(s), whether ...
And legally speaking, it can be very difficult to do so once a real estate contract has been signed. The language of real estate contracts is typically written to protect buyers.
The Restatement (Third) of Restitution and Unjust Enrichment (2011) (“R3RUE”) states that unjust enrichment is a body of legal obligations under the common law and equity – but separate from tort and contract law – that is available to take away an enrichment that lacks an adequate legal basis.
Consequential damages, otherwise known as special damages, are damages that can be proven to have occurred because of the failure of one party to meet a contractual obligation, a breach of contract. [1] From a legal standpoint, an enforceable contract is present when it is: expressed by a valid offer and acceptance, has adequate consideration ...
As a legal term, injury is a harm done to a person due to acts or omissions of other persons. Harm may be of various kinds: bodily injury, psychological trauma, loss of property or reputation, breach of contract, etc. Injury may give rise to civil tort or criminal prosecution.
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