6. Which is NOT a bar to rescission?

Undue delay / lapse of time, i.e. time delay longer than necessary to check the validity of the representation (Leaf)
No substantial loss by representee
Impossible for one party to substantially restore goods/property to the other
Affirmation, i.e. choosing to treat the contract as continuing to be valid
Innocent purchaser acquires an interest in the property before the contract is avoided, without notice of any misrepresentation

7. Which is NOT required to show 3P creditor put on inquiry regarding undue influence took reasonable steps to alert surety?

Private meeting with creditor in which surety warned of risk running
Private meeting with independent legal advisor
Private meeting with creditor in which surety told of extent of liability
Private meeting with creditor in which surety urged to take independent legal advice (or sometimes creditor must insist & refuse to take security if not)

Where contract is set aside and parties are put back into position in which they were before contract was made (PLC)
Where a contract is null from the beginning, e.g. by seriously offending law or public policy, in contrast to merely voidable at the election of one of the parties (Black's Law Dictionary)
Equitable remedy, whereby court will award innocent party a sum reflecting what he might have obtained had D not acted unjustly
Where unforeseen circumstances prevent the performance of a contract so that it may be treated as discharged.

Only if misrepresentation is fraudulent
Court has discretion and won’t award if rescission has been barred
Given in lieu of rescission, according to court's discretion
Likely only where false statement was a small matter, and unfair to allow rescission

3P creditor can be pursued with proprietary claim / restitution of profits
Any security contract obtained as a result = voidable (Barclays, confirmed in Etridge)
3P creditor is innocent purchaser, so rescission is barred
Any security contract obtained as a result = void (Barclays, confirmed in Etridge)

Recipient's failure to discover truth when given opportunity to do so (Redgrave v Hurd)
Silence, including failure to correct (Hamilton)
Failure to disclose changes in a previously true fact (With v O’Flanagan)
Half-truth (Curtis v Chemical Cleaning)

Positive statement of fact or law, made or adopted by a party to a contract, which is untrue. Rescission available where made with object and result of inducing other into contract in reliance on it (Halsbury)
Where one party is mistaken and the other knows or ought to have known of the mistake
Where a false representation has been made knowingly, or without belief in its truth, or recklessly as to its truth.
A representation made carelessly and in breach of duty owed by Party A to Party B to take reasonable care that the representation is accurate.

Court will always take into account insurance payments
Money already paid before the frustrating event can be recovered; and money payable before the event ceases to be payable
Money already paid after the frustrating event can be recovered; and money payable after the event ceases to be payable
Court may allow recovery of a ‘just’ amount of the expenses paid, not exceeding their total value

Illegality, eg. entering into contract where to deliver would mean trading with enemy (Fibrosa)
Hardship, inconvenience or material loss (Davis v Fareham)
Unavailability of thing (Taylor v Caldwell) or person (Condor v Barron Knights)
Non occurrence of event, where occurrence is foundation of the contract, and parties were chosen for that express purpose (Krell)
Government intervention, provided did not constitute merely short or temporary stoppage (D. Kerr)