Contracts
What is rescission of a contract?
AModifying a contract's terms
BCanceling a contract and returning parties to their pre-contract position✓ Correct
CTransferring contract rights to another party
DExtending the contract deadline
Explanation
Rescission cancels a contract and attempts to restore the parties to their original positions. It may occur by mutual agreement or by one party for grounds like fraud, misrepresentation, or mistake.
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