2022 March

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17 Mar: Attorney’s Role In Bankruptcy

In the context of contracts for the sale of land, courts sometimes use the term abandonment as if it were synonymous with rescission, but the two should be distinguished. An abandonment is merely the acceptance by one party of the situation that a nonperforming party has caused. But a rescission due to a material breach by the other party is a termination or discharge of the contract for all purposes.