DeLamar v. Fidelity Loan & Investment Co.

(After stating the foregoing facts.)

TJpon rescission of a contract, the rescinding party must restore or offer to restore to the other party whatever he has received by virtue of the contract. This is the rule in cases both of rescission for fraud and of rescission by one party without the consent of the opposite party for non-performance by him of his covenants. Civil Code (1910), §§ 4305, 4306. “Destitution before absolution is as sound in law as in theology.” Summerall v. Graham, 62 Ga. 729. So, when the defendant rescinded the subscription- contract between it and the plaintiff, it should…