rescission is such a typically available remedy, see 3 Pomeroy’s Equity Jurisprudence § 891 (5th ed. 1941), it is clear that rescission is available if the required elements are established. The analysis therefore properly turns to the elements necessary to establish equitable rescission under federal common law. In the ERISA context, courts have borrowed from traditional common law contract principles in concluding that misstatements or omissions must be “material” in order to warrant rescission. And in this regard, misstatements or omissions are material when they “would have influenced the decision” to enter into the disputed contract with the omitting or misrepresenting party. Shipley, 333 F.3d at 905 (citing cases); see also Grymes v. Sanders, 93 U.S. 55, 60, 23 L.Ed. 798 (1876) (<HOLDING>). This standard is an objective one; in other
holding elements of rescission are 1 holding that party affirming contract is precluded from later seeking rescission holding that an attorney approval clause in a contract for the sale of real estate was a part of that contract and would have to be satisfied for the underlying contract to be enforceable holding that the validity of a contract for a commission for the sale of real estate is determined by the law of the state where the contract is made holding for rescission of contract for sale of land that mistake must be such that it animated and controlled the conduct of the party