Contracts
In Wyoming, contract rescission differs from cancellation because:
AThey are identical in all respects
BRescission returns parties to their original positions; cancellation may not restore original positions if performance has occurred✓ Correct
CCancellation requires court approval; rescission does not
DRescission only applies to verbal contracts
Explanation
Rescission seeks to undo the contract entirely as if it never existed, returning all consideration. Cancellation terminates the contract going forward but may not undo past performance. The distinction matters in disputes over earnest money and other consideration.
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