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Rescission vs. Resolution Explained

This document discusses and compares rescission and resolution as legal remedies. Rescission involves undoing a fraudulent conveyance, while resolution involves undoing a contract due to substantial breach of reciprocal obligations. It also examines different types of contracts involving conveyance, such as contracts to sell, contracts of sale, and contracts of conditional sale, and how conveyance and conditions differ between them. Finally, it discusses fulfillment of an obligation within a fixed period under different conditions.

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austun
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12 views1 page

Rescission vs. Resolution Explained

This document discusses and compares rescission and resolution as legal remedies. Rescission involves undoing a fraudulent conveyance, while resolution involves undoing a contract due to substantial breach of reciprocal obligations. It also examines different types of contracts involving conveyance, such as contracts to sell, contracts of sale, and contracts of conditional sale, and how conveyance and conditions differ between them. Finally, it discusses fulfillment of an obligation within a fixed period under different conditions.

Uploaded by

austun
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

RESCISSION V.

RESOLUTION
A 1381 A 1191

RESCISSION of conveyance RESCISSION [tacit/implied


in fraud of a creditor resolutory condition]
Nature of Remedy Subsidiary Resolution is a principal/retaliatory
remedy
ILLUSTRATION:
Creditor cannot go after the re-
conveyance [rescission of the
fraudulent act]. Must first exhaust
all assets of debtor.

Basis lesion categorised so by a Substantial Breach


relevant law

Kind of contract listed in the law reciprocal obligation

Contract To Sell Contract Of Sale Contract of Conditional


Sale

conveyance no yes conditional

conveyance ~ upon full payment non-payment -> breach provided full payment
[positive suspensive (remedy: resolution) [suspensive condition]
condition] [resolutory condition] (Suspended: effectivity of
(Suspended: realization conveyance) (Thus, it
of obligation) retroacts to day 1)

FULFILMENT OF AN OBLIGATION
A 1834 A 11835 A 11836

within a definite period obligation subject to a negative constructive fulfilment


suspensive condition within a
fixed period.

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