Montana Code 28-2-1713. How rescission accomplished
28-2-1713. How rescission accomplished. Rescission, when not effected by consent, can be accomplished only by the use on the part of the party rescinding of reasonable diligence to comply with the following rules:
Terms Used In Montana Code 28-2-1713
- Contract: A legal written agreement that becomes binding when signed.
- Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
(1)The rescinding party shall rescind promptly upon discovering the facts that entitle the party to rescind if the party is free from duress, menace, undue influence, or disability and is aware of the right to rescind.
(2)The rescinding party shall restore to the other party everything of value that the rescinding party has received from the other party under the contract or shall offer to restore everything of value, upon condition that the other party shall do likewise, unless the other party is unable or positively refuses to do so.