If parties wish to rescind a contract, what action must they take?
Answer to relevant QuestionsWhat is the theory behind a liquidated damages clause in a contract? Burns and his wife bought a new car from a dealer and financed it through the Manhattan Credit Co. The finance company assured Burns that it would take care of the insurance but in fact did not arrange for enough coverage. A ...Bell, purchasing agent for the Hiram Paint Company, mailed a purchase order to the ABC Can Company requesting 50,000 new paint cans. The order form contained, among others things, a condition stating, “ The buyer may ...Lewis orally agreed to sell Hughes a house trailer for $ 5,000 cash. Shortly after the oral agreement was made, Hughes informed Lewis that he would not pay the full $ 5,000 in cash. He wanted to pay it over a period of time ...Harrison, the owner and operator of a men’s clothing store in Westport, Connecticut, ordered a variety of clothing items from Ninth Street East, a clothing manufacturer in Los Angeles. Harrison was notified that the terms ...
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