Choice "D" is correct. A rescission "undoes" a contract and restores the parties to the positions they would have been in if no contract were made.
Choice "a" is incorrect. In a novation, the original parties enter into a new contract that releases at least one of the original parties and substitutes at least one new party. All involved parties must agree.
Choice "b" is incorrect, since a release simply discharges a party. It does not restore the party to their original position.
Choice "c" is incorrect. A revocation refers to the withdrawal of an offer. A contract may not be revoked.
