§15-233. Rescission - Cases when party may rescind.

170 words·~1 min read·/ok/title-15-contracts/15-233

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A party to a contract may rescind the same in the following cases only:

1. If the consent of the party rescinding, or of any party jointly contracting with him, was given by mistake, or obtained through duress, menace, fraud, or undue influence, exercised by or with the connivance of the party as to whom he rescinds, or of any other party to the contract jointly interested with such party.

2. If through the fault of the party as to whom he rescinds, the consideration for his obligation fails in whole or in part.

3. If such consideration becomes entirely void from any cause.

4. If such consideration, before it is rendered to him, fails in a material respect, from any cause;

5. By consent of all of the other parties; or

6. If the party against whom rescission is sought violates the Oklahoma Consumer Protection Act, Section 751 et seq. of this title. R.L. 1910, § 984. Amended by Laws 1999, c. 175, § 1, eff. Nov. 1, 1999.