Discussion
The right of a party to the rescission of voidable contract is subject to the following limitation/s :
Answer: D
The answer is All of the above.
The right to rescind a voidable contract is lost in several situations recognised in contract law:
- Affirmation: once the party with the option, knowing the facts, affirms the contract, it can no longer rescind; unreasonable lapse of time may be treated as affirmation.
- Injury to third parties: rescission is barred where a third party has in good faith acquired rights for value before it is exercised.
- Ability to restore: the party rescinding must be able to restore the benefits received (restitutio in integrum); where that is impossible, rescission is not allowed.
Since each option names a real limit, the complete answer combines them.
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