Contract Law

CIVIL CODE
SECTION 1688-1693

1688. A contract is extinguished by its rescission.

1689. (a) A contract may be rescinded if all the parties thereto
consent.
(b) A party to a contract may rescind the contract in the
following cases:
(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 the consideration for the obligation of the rescinding
party fails, in whole or in part, through the fault of the party as
to whom he rescinds.
(3) If the consideration for the obligation of the rescinding
party becomes entirely void from any cause.
(4) If the consideration for the obligation of the rescinding
party, before it is rendered to him, fails in a material respect from
any cause.
(5) If the contract is unlawful for causes which do not appear in
its terms or conditions, and the parties are not equally at fault.
(6) If the public interest will be prejudiced by permitting the
contract to stand.
(7) Under the circumstances provided for in Sections 39, 1533,
1566, 1785, 1789, 1930 and 2314 of this code, Section 2470 of the
Corporations Code, Sections 331, 338, 359, 447, 1904 and 2030 of the
Insurance Code or any other statute providing for rescission.