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Sir, in Recession parties end contract with their mutual consent i.e no one is injured party, right?
No, not correct!
Rescission (not recession!) is where one party has acquired rights because, for example, they have suffered from a misrepresentation and they are now asking the Court for help
If damages had been sufficient then the Court would have awarded damages
But in a number of situations, damages would not be an adequate remedy so the Court may grant rescission
OK?
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