Contracts
In Maine, 'rescission' of a real estate contract means:
AThe price is reduced
BBoth parties are returned to their pre-contract positions, as if the contract never existed✓ Correct
CThe closing date is extended
DThe buyer accepts the property in its current condition
Explanation
Rescission cancels the contract and returns both parties to their original positions: the buyer receives the earnest money back, and the seller retains the property.
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