Rescission

Question 1

Rescission

Answer 1

a contract being set aside and restoring the status of the parties to their positions before the transaction

Question 2

Unilateral Mistake

Answer 2

• where only one party to the contract has entered into the contract on a mistaken belief
• courts are reluctant to grant rescission for unilateral mistake

Question 3

Common Mistake

Answer 3

• where the parties have entered into the contract sharing the same mistaken belief
• rescission will be granted in cases of common mistake

Question 4

Fraudulent Misrepresentation

Answer 4

where is a fraudulent misrepresentation to the other party, rescission can be granted, unless restitution is not possible

Question 5

Innocent Misrepresentation

Answer 5

rescission can be granted where the representation was made with the intention of inducing the plaintiff to act thereon and they did or relied on it

Question 6

Undue Influence

Answer 6

where a party enters into a contract due to their improper influence or domination of another

Question 7

Actual Undue Influence

Answer 7

the BoP is on the claimant to prove that actual undue influence was exercised

Question 8

Presumed Undue Influence

Answer 8

presumed between parties w/ a relationship and a substantial benefit is conferred on the stronger party or a relationship based on trust & confidence

Question 9

Rebutting Presumption of Undue Influence

Answer 9

onus on the presumed party to rebut by showing that the plaintiff entered into the transaction w/ free and independent will
- evidence of independent legal advice would rebut