§ 28-2-1701 How contract extinguished
§ 28-2-1702 Extinction of written contract by destruction or cancellation
§ 28-2-1703 Extinction of executory obligations of contract by destruction, cancellation, or alteration
§ 28-2-1711 When party may rescind
§ 28-2-1712 When stipulation against rescission ineffective
§ 28-2-1713 How rescission accomplished
§ 28-2-1714 When rescission may be adjudged
§ 28-2-1715 When rescission may be adjudged for mistake
§ 28-2-1716 Power of court to require party rescinding to do equity
lawyer at desk

Ask a litigation question, get an answer ASAP!
Thousands of highly rated, verified litigation lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Montana Code > Title 28 > Chapter 2 > Part 17 - Extinction of Contracts -- Rescission

  • Contract: A legal written agreement that becomes binding when signed.
  • Fraud: Intentional deception resulting in injury to another.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • 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 The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded.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.
  • Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). Source: OCC