Home Table of Contents

§ 235. Duty of party attempting rescission

Oklahoma Statutes AnnotatedTitle 15. Contracts

Oklahoma Statutes Annotated
Title 15. Contracts
Chapter 5. Extinction of Contracts
15 Okl.St.Ann. § 235
§ 235. Duty of party attempting rescission
Currentness
Rescission, when not effected by consent, can be accomplished only by the use, on the part of the party rescinding, of reasonable diligence to comply with the following rules:
1. He must rescind promptly, upon discovering the facts which entitle him to rescind, if he is free from duress, menace, undue influence, or disability, and is aware of his right to rescind; and,
2. He must restore to the other party everything of value which he has received from him under the contract; or must offer to restore the same, upon condition that such party shall do likewise, unless the latter is unable, or positively refuses to do so.

Credits

R.L.1910, § 986.
15 Okl. St. Ann. § 235, OK ST T. 15 § 235
Current with emergency effective legislation through Chapter 3 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
End of Document