The object of all proceedings based upon rescission of contracts induced by misrepresentation1 is: (1) to obtain a judicial declaration and judgment that the contract in question has always been, and still is, voidable by reason of the misrepresentation2; (2) the annulment of the contract by the court, pursuant to its declaration, which annulment relates back to the date of the contract3; and (3) such consequential directions and relief as will restore the parties to the exact position in which they were before the contract was entered into, this being the inevitable operation of any avoidance ab initio
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