The destruction or annulling of a contract. 2. The right to rescind a contract seems to suppose not that the contract has existed only in appearance; but that it has never had a real existence on account of the defects which accompanied it; or which prevented its actual execution. 7 Toul. n. 551 17 Id. n. 114. 3. A contract cannot, in general, be rescinded by one party unless … [Read more...] about RESCISSION OF A CONTRACT
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RES JUDICATA
(I) Latin for meaning has already been judicially decided. Where a final judgment has been rendered on the merits of an action and no other court may hear an appeal. Also known as claim preclusion. (II) practice. The decision of a legal or equitable issue, by a court of competent jurisdiction. 2. It is a general principle that such decision is binding and conclusive upon all … [Read more...] about RES JUDICATA
RESCISSION OF CONTRACT
The act of making a contract void and releasing the parties to the agreement. … [Read more...] about RESCISSION OF CONTRACT
RES JUDICATA ACCIPITUR PRO VERITATE
Latin, meaning A thing adjudged is accepted for the truth. … [Read more...] about RES JUDICATA ACCIPITUR PRO VERITATE
RESCISSORY ACTION
In Scotch law. One to rescind or annul a deed or contract. … [Read more...] about RESCISSORY ACTION