Rescission of bilateral contract

Where the contract is bi-lateral and one of the contracting party fails to perform his obligation, the other contracting party may equally get exonerated, or demand that the defaulter be compelled, by judicial means to perform whatever he was bound to perform or to compensate him for the losses and damages. § Sole paragraph - In the same manner, one of the contracting parties may get exonerated, if the other is legally or physically disabled from performing the contract.