Under the New York Rules of Professional Conduct, Section 7.1, portions of this website may be considered attorney advertising. ============================================================================== IRS Circular 230 Disclosure: U.S. On, 20, the parties entered into a contract, which is attached and marked Exhibit A. The parties to that contract and to this agreement of mutual rescission wish to rescind that contract. When both parties want to invalidate an agreement that neither has fulfilled completely, and to release all of their related obligations and rights under that agreement, they may use a rescission to meet these objectives. If one or both parties have completed key tasks required of them under the agreement, a different remedy is generally required (often a claim for restitution). Rescission "turns back the clock" and puts each party back in the position they held before the agreement became effective. It is, as some courts have said, the un-making of a contract.