What would be an example of unilateral rescission?

Unilateral rescission occurs when one party to a contract decides to terminate the agreement without the consent or agreement of the other party involved. This type of rescission is typically grounded in specific legal reasons, such as a breach of contract by the other party, misrepresentation, or other valid legal grounds.

In this case, the option that illustrates unilateral rescission is when one party voluntarily terminates the agreement. This action effectively nullifies the contractual obligations for that party, provided they have the legal right to do so. It reflects the nature of unilateral actions, where one side makes the decision independently.

The other options involve mutual agreement or actions that do not align with the concept of unilateral rescission. For instance, when both parties agree to cancel a contract, it indicates mutual consent rather than a unilateral decision. Similarly, when parties renegotiate the contract terms, it suggests a collaborative effort to modify the original agreement, rather than one side acting unilaterally. Lastly, selling the property before the contract ends might not be a direct action of rescission; it can complicate the contractual obligations and does not conform to the unilateral termination principle.