What is rescission?

What Does rescission Mean

From the Latin rescissĭo , rescission is the action and effect of rescission . This verb refers to the action of nullifying a legal obligation or a contract . By making a termination, therefore, a legal act that had been contracted previously is annulled or canceled.

For example: “The termination of the North American's contract will cost the team from the capital several thousand dollars” , “If the authorities decide to terminate the concession, we will go to international courts” , “Lionel Messi has the clause of most expensive termination in history ” .
Each legislation establishes the limits or scope of the termination. Typically, the person to whose favor you refer the contract is the one who has the power to terminate it. This does not mean that the counterpart cannot request the termination of the contract when a reason arises that warrants it. In any case, the Justice must decide if said interruption of the contract is valid and corresponds according to the case.

It is also important to know that there are other causes when it comes to ending a contract. These include revocation, voidability, non-existence, nullity, death or contractual resolution.
Regarding the termination, we would have to highlight some important nuances that are of interest to know the value of the termination, its consequences and objectives:

• It is a right of the party that has been affected by the contractual situation.

• For it to be understood that there is termination, it is essential to take into account that it is necessary that there is a disproportion in the relevant benefit.

• It cannot be considered that it is a vice but rather that it derives from one.
Anyone who has made the decision to terminate the employment contract they have with your company is important to follow these series of steps in order to bring the goal that has been proposed to the best possible port. In this sense, we must proceed to undertake the following recommendations:

• The first and foremost thing is to properly read the contract in order to clearly determine the duration of the contract and if it establishes any type of termination clause.

• You must choose to hire or consult a lawyer specialized in these matters.

• It is inevitable to study the case in depth to see if there is any kind of situation in which to take refuge and that allows the aforementioned contract to be terminated without having to face any type of penalty, such as a breach of contract.
Failure to comply with the conditions of the contract is just cause for the termination of a contract. When this fault is proven, the affected party has the right to request compensation because the breaches led to the early dissolution of the contractual obligation.
At a general level, one can speak of three types of termination: voluntary (there is mutual consent of the parties), judicial (issued by a judicial body in the event of damage caused by one of the parties) or fortuitous (for reasons beyond the control of the party). obliged).

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