Similarities 1. Presuppose contracts validly entered into existing
Recsission vs annulment: the latter there is defect which vitiates/invalidates the contract 2. Mutual restitution when declared proper Who may demand Only by a party to the Party to the contract contract suffering lesion Third parties prejudiced by the contract Grounds Non-performance (implied Various reasons of equity tacit condition in provided by the grounds, reciprocal obligation) mainly economic injury or lesions Scope of judicial control Court determines Sufficiency of reason does sufficiency of reason to not affect right to ask for justify extension of time to rescission (cannot be perform obligation refused if all the requisites (whether slight or casual are satisfied) breach) Kind of obli applicable to Only to reciprocal Unilateral, reciprocal – Even when contract is fully fulfilled Character Principal remedy Secondary/subsidiary