Contracts
Under West Virginia law, a real estate contract may be rescinded by mutual consent of the parties, which means:
AOnly the buyer can rescind a real estate contract
BBoth parties agree to cancel the contract and return to their pre-contract positions✓ Correct
CRescission requires court approval in all cases
DRescission is available only when one party has breached the contract
Explanation
Mutual rescission occurs when both parties agree to cancel the contract and restore each party to their original position, including return of the earnest money. It does not require court action if done by mutual agreement.
Related West Virginia Contracts Questions
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