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First, where a party to a contract exercises an express right of termination, he or she is sometimes said to have exercised a right to rescind the contract. Secondly, where a party is faced with a repudiation, the party can elect to terminate the contract; this too has often been referred to as an election to rescind. "Rescission" at common law.
The credit card issuer may extend an attractive offer that makes it worth your while to stay, such as waiving the annual fee for a year, lowering your interest rate or issuing bonus rewards.
Credit history: Since the average length of your credit history makes up 15 percent of your FICO score, closing accounts can hurt your credit score in the short term and even over time if you don ...
Building contingencies into the contract: Most real estate contracts have contingencies that give sellers cause to back out. For instance, the seller may say they will only sell their property if ...
A contract lays down what must be done, what cannot be done, and when it must be done. If what was prescribed has not been done within the stipulated or reasonable period, there has been a breach of contract. A further form of breach of contract is conduct indicating an unwillingness or inability to perform an obligation arising from that contract.
Hardship clause is a clause in a contract that is intended to cover cases in which unforeseen events occur that fundamentally alter the equilibrium of a contract resulting in an excessive burden being placed on one of the parties involved.