Section 8.26 Rescission vs. Termination
| Library | Construction Law 2016 Supp |
B. (§8.26) Rescission vs. Termination
When there has been a material breach of the contract, the non- breaching party has three options:
1. Continue to perform under the contract and seek damages for the breach
2. Terminate the contract and seek damages for material breach
3. Rescind the contract
Rescission results in a complete abrogation of the contract. Dilts v. Lynch, 655 S.W.2d 118 (Mo. App. S.D. 1983). Upon rescission, the parties may cease to perform, and, instead of seeking damages, both parties are returned to the status quo as it existed before they entered into the contract. Iota Mgmt. Corp. v. Boulevard Inv. Co., 731...
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