Rescission for fraud
Applied in 1 court decision — leading case 460 F. App'x 899 - PHL Variable Insurance v. Faye Keith Jolly Irrevocable Life Insurance Trust Ex Rel. Shapiro (2012)
Most recently applied in 460 F. App'x 899 - PHL Variable Insurance v. Faye Keith Jolly Irrevocable Life Insurance Trust Ex Rel. Shapiro (March 2012)
of Code section. — This Code section is derived from the decision in East Tenn. & Ga
A contract may be rescinded at the instance of the party defrauded; but, in order to rescind, the defrauded party must promptly, upon discovery of the fraud, restore or offer to restore to the other party whatever he has received by virtue of the contract if it is of any value. (Civil Code 1895,
§ 3711; Civil Code 1910, § 4305; Code 1933, § 20-906.)
Current official text: Official Code of Georgia Annotated (LexisNexis). Digitized from the Internet Archive scan of the OCGA. Reproduced from public-domain Georgia statutes; confirm against the official source for the current text. Not legal advice.