Under what circumstances is the remedy of rescission and restitution available?
Remedy of rescission is available when fraud, mistake, duress, undue influence, lack of capacity, or failure of consideration is present. Rescission may also be available by statute.
Restitution may be required when a contract is rescinded, both parties must make restitution to each other by returning the goods, property, or funds previously conveyed. A party can seek restitution in actions for breach of contract, tort actions, and other types of actions.