Which of the Following Statements Is TRUE with Respect to the Word

Multiple Choice

Which of the following statements is TRUE with respect to the word "rescission"?

A) Rescission always arises as a result of a contractual defect.
B) Rescission is the name of the process that allows a contract to be discharged after one party has breached a serious term of the contract.
C) Depending upon the circumstances, rescission may involve either a bilateral agreement to discharge a contract or a unilateral decision to terminate a contract.
D) Rescission eliminates the need to perform outstanding primary obligations, but it does not affect secondary obligations.
E) Rescission always requires the supply of fresh consideration.