Contracts
Rescission of an Alaska real estate contract means:
AOne party sues the other for breach
BBoth parties agree to cancel the contract and return to their original positions✓ Correct
CThe court orders specific performance
DThe earnest money is forfeited by the buyer
Explanation
Rescission cancels the contract and restores the parties to the positions they held before contracting. Both parties must return anything received under the contract.
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