What is a mutual rescission of a contract?

A mutual rescission of a contract is a legal process in Arizona that allows two parties to mutually agree to end a contract. This means that both parties to the contract have agreed to end the agreement and to release each other from any obligations they had under the contract. This process can be useful when both parties want to end a contract, but they cannot reach an agreement on how the contract should be ended or if the contract does not contain a clause to terminate the contract. In Arizona, the mutual rescission process involves both parties signing a document that states that they both agree to end the contract and to release each other from any obligations they had. This document must be signed by both parties, and a copy must be kept by each of them. This document is then either filed with the court, or with a state agency that handles contract rescission cases. Once the document is signed and filed, the contract is legally rescinded. This means that both parties are no longer legally bound by the contract and no longer have to fulfill any of the obligations they had under the contract. The parties are then free to enter into new agreements or contracts that are not affected by the previous contract.

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What is a mutual rescission of a contract?

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