ABSTRACT
The right to rescind will be lost where it is impossible to return the parties to the positions they occupied previously (Erlanger v New Sombrero Phosphate Co (1873)), where the contract has been affirmed (Peyman v Lanjani (1985)), or (in common with the general equitable principles considered in Chapter 1) where there has been delay (Life Association of Scotland v Siddal (1861)).
