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ID number:669215
Published: 28.11.2017.
Language: English
Level: College/University
Literature: n/a
References: Not used
Time period viewed: 2016.g. - 2017.g.

Restitution- usually refers to the return of property to a party, but can also be a sum of money to replace something which was lost. Restitution is intended to place the parties back in the position they would have been in had the contract not been entered into or had a particular event not occurred.

Rescission- an order canceling a contract as if it never existed. The parties are excused from all obligations under the agreement.

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