28-2-1701. How contract extinguished. (1) A contract may be extinguished in the same manner as any other obligation and also in the manner prescribed by part 16 and this part. (2) A contract is extinguished by its rescission. History: (1)En. Sec. 2260, Civ. C. 1895; re-en. Sec. 5061, Rev. C. 1907; re-en. Sec. 7563, R.C.M. 1921; Cal. Civ. […]
28-2-1702. Extinction of written contract by destruction or cancellation. The destruction or cancellation of a written contract or of the signature of the parties liable thereon with intent to extinguish the obligation thereof extinguishes it as to all the parties consenting to the act. History: En. Sec. 2282, Civ. C. 1895; re-en. Sec. 5068, Rev. C. 1907; […]
28-2-1703. Extinction of executory obligations of contract by destruction, cancellation, or alteration. (1) The intentional destruction, cancellation, or material alteration of a written contract by a party entitled to any benefit under the contract or with the party’s consent extinguishes all the executory obligations of the contract in that party’s favor against parties who do not […]
28-2-1704 through 28-2-1710 reserved.
28-2-1711. When party may rescind. A party to a contract may rescind the contract in the following cases only: (1) if the consent of the party rescinding or of any party jointly contracting with the party rescinding was given by mistake or obtained through duress, menace, fraud, or undue influence exercised by or with the connivance of […]
28-2-1712. When stipulation against rescission ineffective. A stipulation that errors of description shall not avoid a contract or shall be the subject of compensation, or both, does not take away the right of rescission for fraud or for mistake where such mistake is in a matter essential to the inducement of the contract and is not […]
28-2-1713. How rescission accomplished. Rescission, when not effected by consent, can be accomplished only by the use on the part of the party rescinding of reasonable diligence to comply with the following rules: (1) The rescinding party shall rescind promptly upon discovering the facts that entitle the party to rescind if the party is free from duress, […]
28-2-1714. When rescission may be adjudged. The rescission of a written contract may be adjudged on the application of a party aggrieved: (1) in any of the cases mentioned in 28-2-1711; (2) where the contract is unlawful for causes not apparent upon its face and the parties were not equally in fault; or (3) when the public interest will […]
28-2-1715. When rescission may be adjudged for mistake. Rescission cannot be adjudged for mere mistake unless the party against whom it is adjudged can be restored to substantially the same position as if the contract had not been made. History: En. Sec. 4441, Civ. C. 1895; re-en. Sec. 6113, Rev. C. 1907; re-en. Sec. 8731, R.C.M. 1921; […]
28-2-1716. Power of court to require party rescinding to do equity. On adjudging the rescission of a contract, the court may require the party to whom such relief is granted to make any compensation or restoration to the other which justice may require. History: En. Sec. 4442, Civ. C. 1895; re-en. Sec. 6114, Rev. C. 1907; re-en. […]
