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Rescission can either mean a contract is discharged by breach or a contract is treated as if it never existed—known as rescission ab initio. This Practice Note explains what these two different remedies mean, what options are available to the parties and what the Standard Conditions of Sale (SCS) and the Standard Commercial Property Conditions (SCPCs) provide in that respect.

For contractual remedies in relation to property contracts generally, see Practice Notes:

1. •

   Notice to complete

2. •

   Repudiation of property sale contracts

3. •

   Specific performance of property agreements

4. •

   Liability for breach of property contract after completion

5. •

   Return or forfeiture of a deposit

6. •

   Misrepresentation, misstatement and non-disclosure in property matters

7. •

   Exclusion clauses in property contracts—misrepresentation

8. •

   Rectification—mutual mistake

9. •

   Rectification—unilateral mistake, and

10. •

    Rescission in the context of a claim based on mistake

The term rescission is used to describe two very different remedies:

1. •

   rescission ab initio, and

2. •

   rescission for breach (or more accurately discharge by breach)