28-2-1711. When party may rescind. A party to a contract may rescind the same in the following cases only:
     (1) if the consent of the party rescinding or of any party jointly contracting with him was given by mistake or obtained through duress, menace, fraud, or undue influence exercised by or with the connivance of the party as to whom he rescinds or of any other party to the contract jointly interested with such party;
     (2) if, through the fault of the party as to whom he rescinds, the consideration for his obligation fails in whole or in part;
     (3) if such consideration becomes entirely void from any cause;
     (4) if such consideration, before it is rendered to him, fails in a material respect from any cause; or
     (5) if all the other parties consent.

     History: En. Sec. 2271, Civ. C. 1895; re-en. Sec. 5063, Rev. C. 1907; re-en. Sec. 7565, R.C.M. 1921; Cal. Civ. C. Sec. 1689; Field Civ. C. Sec. 839; re-en. Sec. 7565, R.C.M. 1935; R.C.M. 1947, 13-903; amd. Sec. 24, Ch. 117, L. 1979.