Contracts
Rescission of an Indiana real estate contract returns the parties to:
AThe position they would have been in had the contract been fully performed
BTheir original positions before the contract was formed, with all consideration returned✓ Correct
CA modified version of the original contract
DA mediation process
Explanation
Rescission cancels the contract and restores the parties to their pre-contract positions — earnest money is returned to the buyer and the property remains with the seller.
Related Indiana Contracts Questions
- A unilateral contract in Indiana real estate is one where:
- In Indiana, 'rescission' of a real estate contract means:
- When does earnest money in an Indiana residential transaction become 'at risk' of being forfeited?
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