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Difference between rescission and cancellation of contract

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Answer:

Explanation:

CANCELLATION and rescission are both ways of ending ( terminating ) LEGAL contracts.

The MAIN difference is as following,

Cancellation:

In this you end a contract by eliminating the validity of the contract itself. You SHOW that the contract is ineffective and must therefore end. For instance, if there are two parties in a contract A and B. A BREACHES the contract, you must bring this into notice and will get the contract cancelled.

Rescission:

In this you get to end the contract by going back to its original form. "you rescind", "you go back". For instance, you undo the contract.



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