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Rescind

To rescind means to restore the parties to their former position, i.e. before they entered into the contract. Rescission is an ‘equitable remedy. ’
Under the Standard Conditions of Sale the right to rescind the contract is available in the following situations:

 

  • Where the risk in the property remains with the seller and the property is rendered unusable between exchange and completion
  • For misrepresentation
  • Where a Licence to Assign has not been provided
  • Where either party fails to complete with a Notice to complete.