Contracts
Mutual rescission of a Utah real estate contract means:
AOne party terminates the contract based on the other's breach
BBoth parties agree to cancel the contract and are restored to their pre-contract positions✓ Correct
CThe court orders cancellation of the contract
DThe real estate commission mediates a resolution
Explanation
Mutual rescission is a voluntary termination of the contract by agreement of both parties, with each party returning to their pre-contract position (earnest money returned, all obligations released). This is distinct from termination by one party due to breach.
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