Section 64, Contract Act 1872: Consequences Of Rescission Of A Voidable Contract

Section 64 under the Chapter IV (Of the performance of contracts, Contracts which must be performed) of the Contract Act, 1872 of India - 'Consequences of rescission of a voidable contract', is reproduced hereunder:—

“When a person at whose option a contract is voidable rescinds it, the other party thereto need to perform any promise therein contained in which he is promisor. The party rescinding a voidable contract shall, if he has received any benefit thereunder from another party to such contract, restore such benefit, so far as may be, to the person from whom it was received.”

Extra Notes for Readers

(1) Also refer relevant section 75 (Party rightfully rescinding contract entitled to compensation).

No comments:

Post a Comment

In comment with "Name/Url" option, only Name is mandatory to be filled.