Law360: When to Consider Modifying TILA Rescission Procedures

Articles / Publications

In an article published on Friday, February 2 on Law360, Gennifer Bridges discusses the distinction between common law rescission and TILA rescission. While tender of any benefits received under a contract is a rescission requirement under both TILA and common law, there is a significant difference between the two, Bridges details, "However, the two differ regarding when tender must occur, with common law viewing tender as a condition precedent, and TILA requiring that tender be made only after a right of rescission has been exercised and a lender has performed its duties to recognize the rescission."

For the full article, subscribers may click here.

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