Asked by Daisy Terrado on Jul 14, 2024
Verified
Only contracts that have been fully executed can be rescinded by agreement.
Fully Executed
A contract or agreement that has been completely signed by all parties involved and all the terms are fully met.
Rescinded by Agreement
The mutual decision of parties involved in a contract to cancel or nullify the agreement.
- Comprehend particular methods of contract cancellation, such as mutual rescission and novation.
Verified Answer
CT
Cameron TillyJul 20, 2024
Final Answer :
False
Explanation :
Contracts can be rescinded by mutual agreement of the parties involved at any stage before full execution, not only after they have been fully executed.
Learning Objectives
- Comprehend particular methods of contract cancellation, such as mutual rescission and novation.
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