GA Code § 13-4-60 (2021)
2021 Georgia Code|Title 13 - Contracts|Chapter 4 - Modification, Extinguishment, and Renewal|Article 4 - Rescission|§ 13-4-60. Rescission for Fraud

 A contract may be rescinded at the instance of the party defrauded; but, in order to rescind, the defrauded party must promptly, upon discovery of the fraud, restore or offer to restore to the other party whatever he has received by virtue of the contract if it is of any value.   (Civil Code 1895, § 3711; Civil Code 1910, § 4305; Code 1933, § 20-906.)   Cross references.   - Fraud generally, § 23-2-50 et seq.   Law reviews.   - For article discussing the historical background of the doctrine of tender and the application in Georgia of tender requirements, and proposing reforms, see 21 Mercer L. Rev. 413 (1969). For article discussing ex parte rescission of sales contract for fraud and suit for fraud and deceit, in light of City Dodge, Inc. v. Gardner, 232 Ga. 766, 208 S.E.2d 794 (1974), see 11 Ga. St. B.J. 172 (1975). For note discussing rescission for fraud as a consumer remedy, see 25 Emory L.J. 445 (1976). For note, "Misrepresentations and Nondisclosures in the Insurance Application," see 13 Ga. L. Rev. 876 (1979). For comment discussing action of fraud where injured purchaser did not first seek rescission of contract, in light of Mutual Home & Sav. Ass'n v. Westgerdes, 33 Abs. 490, 35 N.E.2d 882 (1941), see 4 Ga. B.J. 69 (1941).   JUDICIAL DECISIONS   ANALYSIS    General Consideration   Waiver   Rescission   Restoration of Benefits    RESEARCH REFERENCES   Am. Jur. 2d.   - 13 Am. Jur. 2d, Cancellation of Instruments, § 16 et seq. 17 Am. Jur. 2d, Contracts, §§ 476, 488, 496, 499, 506. 37 Am. Jur. 2d, Fraud and Deceit, §§ 15, 16, 52, 136, 375, 376.   Proof of Fraudulent Inducement of a Contract and Entitlement to Remedies, 48 POF3d 329.   C.J.S.   - 17 C.J.S., Contracts, § 167. 17A C.J.S., Contracts, §§ 415, 418, 438, 439, 441, 445.   ALR.    - Presence of noxious weeds as ground for rescission of contract for purchase of land, 2 A.L.R. 1511.    Validity and effect of stipulation to the effect that vendee or purchaser does not rely upon representations of vendor or seller, or the latter's agent, 10 A.L.R. 1472.    Validity of agreement to pay an officer or employee of a bank or trust company to disclose the existence of, or to assist one to establish, a deposit, 18 A.L.R. 979.    Seller's concealment of ownership of other property inducing exclusion of same from contract as actionable fraud, 26 A.L.R. 990.    Fraudulent misrepresentation or concealment by a contracting party concerning title to property or other subjects which are matters of public record, 33 A.L.R. 853; 56 A.L.R. 1217.    Recovery in action of deceit for fraudulently inducing contract of expense of other litigation incident to contract, 41 A.L.R. 1156.    False statement by vendor, or his agent, as to price for which property in question, or property in vicinity, had been sold as ground for relief of purchaser, 66 A.L.R. 188.    Examination of real property by purchaser before entering into contract as precluding rescission on ground of falsity of representations, 70 A.L.R. 942.    Time for rescission by purchaser of chattel for fraud or breach of warranty, 72 A.L.R. 726.    Principle which denies relief to party who has conveyed or transferred property in fraud of his creditors, as affected by execution, as part of, or as contemplated at time of, the fraudulent transaction, of reconveyance or retransfer of the property to him, 89 A.L.R. 1166.    Misrepresentations by one party's agent, who was not authorized in that regard, as ground of rescission by the other party, 95 A.L.R. 763.    Fraud inducing deposits or subscription to stock in building and loan association as ground of rescission or preference where association is insolvent, 100 A.L.R. 573.    Stamp or transfer tax as payable in respect of tender or return of securities or documents incident to rescission of contract, 100 A.L.R. 1420.    Pecuniary damage as essential to rescission of contract for purchase of real or personal property, 106 A.L.R. 125.    Rescission as essential to cancellation of instrument or lien voidable for fraud or failure of consideration, 109 A.L.R. 1032.    Remedy of rescission for grantee's breach of agreement to support grantor, 112 A.L.R. 670.    Sufficiency of buyer's attempt to rescind as affected by his apparent recognition of or insistence upon continuance of seller's obligation under the contract, 118 A.L.R. 530.    Rights of parties to conditional sale as affected by breach of warranty, 130 A.L.R. 753.    Return or tender of consideration for release or compromise as condition of action for rescission or cancellation, action upon original claim, or action for damages sustained by the fraud inducing the release or compromise, 134 A.L.R. 6.    Breach of obligation to pay tax or assessment on land sold as ground for rescission of contract, 139 A.L.R. 971.    Partial rescission of contract, 148 A.L.R. 417.    Seller's advertisements as affecting rights of parties to sale of personal property, 158 A.L.R. 1413.    Assignability of right to rescind or of right to return of money or other property as incident of rescission, 162 A.L.R. 743.    What amounts to fraud on contractor, sustaining rescission or action for damages under building or construction contract, 166 A.L.R. 938.   Commitment of grantor to institution for insane as ground for setting aside conveyance in consideration of support, 18 A.L.R.2d 906.   Timeliness of tender or offer of return of consideration for release or compromise, required as a condition of setting it aside, 53 A.L.R.2d 757.   What constitutes abandonment of land contract by vendee, 68 A.L.R.2d 581.   Venue of action for rescission or cancellation of contract relating to interests in land, 77 A.L.R.2d 1014.   Necessity of showing damage to establish fraud as defense to action on contract, 91 A.L.R.2d 346.   Seller's liability for fraud in connection with contract for the sale of long-term dancing lessons, 28 A.L.R.3d 1412.   Purchaser's misrepresentations as to intended use of real property as ground for vendor's equitable relief from contract and deed, 35 A.L.R.3d 1369.   Automobile or motorcycle as necessary for infant, 56 A.L.R.3d 1335.   Public contracts: duty of public authority to disclose to contractor information, allegedly in its possession, affecting cost or feasibility of project, 86 A.L.R.3d 182.   Construction and effect of provision in contract for sale of realty by which purchaser agrees to take property "as is" or in its existing condition, 8 A.L.R.5th 312.