Question

Which of the following is a true statement regarding discharge of contractual duties by rescission?

A An agreement to rescind is itself a binding contract supported by consideration

B Once an offeree of a unilateral contract has fully performed, the contract cannot be rescinded under any circumstances

C A third-party beneficiary contract may be discharged by mutual rescission despite the vesting of the beneficiary's rights if the beneficiary is a donee beneficiary

D A mutual rescission agreement must be in writing if the contract so provides

Answer 1

An agreement to rescind is itself a binding contract supported by consideration.

Step-by-step explanation:

The true statement regarding the discharge of contractual duties by rescission is:

1. An agreement to rescind is itself a binding contract supported by consideration. A valid rescission agreement requires both parties to agree to cancel the contract, and consideration is necessary to make the agreement binding and enforceable.