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Legal basis: Article 54 of the Contract Law

Revocable contract

One party has the right to request the people's court or arbitration institution to modify or terminate the following contracts:

(1) Due to a major misunderstanding;

(2) obviously unfair at the time of conclusion of the contract.

If one party leads the other party to conclude a contract against its true meaning by fraud, coercion or taking advantage of others' danger, the injured party has the right to request the people's court or arbitration institution to modify or cancel it.

The people's court or arbitration institution shall not revoke the request of the parties. Article 58

Legal consequences of invalid or revoked contract

After the contract is invalid or cancelled, the property acquired as a result of the contract shall be returned; If it is impossible or unnecessary to return it, it shall be compensated at a discount. The party at fault shall compensate the other party for the losses suffered as a result. If both parties are at fault, they shall bear their respective responsibilities.