A contract may be rescinded at the instance of the party defrauded; but, in order to rescind, the defrauded party must promptly, upon discovery of the fraud, restore or offer to restore to the other party whatever he has received by virtue of the contract if it is of any value. History. Civil Code 1895, […]
Except as otherwise provided in Title 11, the “Uniform Commercial Code,” where a contract of sale is rescinded for fraud, the rights of the vendor reclaiming the goods are superior to those of one who has acquired the goods or a lien thereon in consideration of an antecedent debt. History. Civil Code 1895, § 3713; […]
A party may rescind a contract without the consent of the opposite party on the ground of nonperformance by that party but only when both parties can be restored to the condition in which they were before the contract was made. History. Orig. Code 1863, § 2801; Code 1868, § 2809; Code 1873, § 2860; […]
