Respuesta :

Guido and hal want to rescind their contract under which Guido sold hal a mountain bike for $100. To rescind the contract. ​Guido must return the $100 and Hal must return the bike.

What do you mean by contract?

  • A contract is an enforceable legal arrangement that establishes, details, and regulates the rights and duties of the parties.
  • The transfer of commodities, services, money, or a promise to transfer any of those at a later time are common components of contracts.
  • The damaged party may seek legal remedies like damages or rescission in the event of a contract breach.
  • The foundation of contract law, which is the area of law of obligations pertaining to contracts, is the idea that agreements must be upheld.

What constitutes a contract's seven elements?

  • Basics of contracts.
  • Classification of contracts.
  • Offer.
  • Acceptance.
  • A gathering of minds.
  • Consideration.
  • Capacity.
  • Legality.

Learn more about contract here:

https://brainly.com/question/2669219

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