1.When a person at whose option a contract is voidable rescinds it, the other party thereto...

1.When a person at whose option a contract is voidable rescinds it, the other party thereto need not perform any promise therein contained in which he is promisor. The party rescinding a voidable contract shall, if he has received any benefit thereunder from another party to such contract, restore the benefit, so far as may be, to the person from whom it was received.

2. When an agreement is discovered to be void, or when a
contract becomes void, any person who has received any advantage
under the agreement or contract is bound to restore it, or to make
compensation for it, to the person from whom he received it.

3. The rescission of a voidable contract may be communicated or
revoked in the same manner, and subject to the same rules, as apply
to the communication or revocation of a proposal.

Interpret the sentences into simple sentences.

Solutions

Expert Solution

1. In case of a voidable contract, a party can cancel the contract if the other party has not fulfilled the contract's essentials. For instance: In this case, a party obtained the other party's consent by undue influence, then the other party against whom the first party committed wrong can cancel the contract. The parties do not have to complete the obligations and responsibilities in case of cancellation of the contract. Both parties have to return or compensate the parties for any undue advantage.

2. A void agreement is when the motive of the agreement is illegal, and against the legal system. Moreover, the agreement is also void when there is no consideration or frustration due to unavoidable and unanticipated circumstances. The agreement became void, and the parties do not have to perform any obligations. However, parties must compensate the other party for the undue advantage and profits.

3. The voidable contract is at the discretion of the party against whom the other party commits wrong. Hence, the party has to communicate the revocation of the contract to the other party. It can be in the way of written communication, and the moment he/she sends the communication, the party assumes that the other party has received the communication. Hence, the parties should have the communication.

keosha answered 1 year ago

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