New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    What are the consequences of rescission of voidable

    contract as per the Contract Act?
    A Other party is bound to fulfill his respective obligations under the contract Correct Answer Incorrect Answer
    B Other party need not perform any promise therein contained in which he is promisor Correct Answer Incorrect Answer
    C The party rescinding avoidable contract shall, if he has received any benefit from another party to such contract, restore such benefit, so far as may be, to the person from whom it was received Correct Answer Incorrect Answer
    D Both b & c Correct Answer Incorrect Answer

    Solution

    Section 64.   Consequences of rescission of voidable contract: When a person at whose option a contract is voidable rescinds it, the other party thereto need not perform any promise therein contained in which he is promisor. The party rescinding avoidable contract shall, if he have 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.

    Practice Next