Insurance 101 – Chapter 16 Volume 12 – Grounds for Rescission

Grounds for Rescission

Rescission is a remedy that is considered equitable; it provides the parties with a fair resolution to a problem rather than money damages. If a contract is rescinded it is, to the law, as if it never existed. Because rescission destroys rights people have under contracts, it requires clear evidence that it would be unfair and unreasonable to allow anyone to enforce the terms of the contract.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

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The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.

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