BU231 Chapter Notes - Chapter 9: Rescission, Emor, Non Est Factum
Document Summary
Relief may be available when there has been a mistake or a misrepresentation. if one party has pressured the other into agreeing, the principles of undue influence and duress may apply. Consumers are given statutory protection from some improper business behavior. Legal mistake is not the same mistake. Errors in judgement do not legal justify avoiding one"s legal obligations under a contract. If you want to make a contract voidable, you must also give away the benefits. However, if you cannot restore the good, the right to rescind ( set aside, undo or revoke a contract and return the parties as nearly as possible to their original positions. ) is lost. You can also correct a mistaken contract rectified. If a contract was void, it means that it was never created in a sense. No rights, title, or ownership pass to anyone under a void contract.
