Materials available after original program date, 12/01/2025.

Despite the best-laid plans and careful drafting, errors occur in transactions and their underlying documents. The parties may have had a misunderstanding of a crucial fact or the applicable law, leaving the parties with a practically or legally defective arrangement. Or a simple drafting error may have been made in one or more of the transaction’s underlying documents. This program provides you with a practical guide to using rescission, backdating, and other forms of modification to fix transactional errors, teach you about the best uses and limits of each technique, and discusses the tax and other consequences of using these techniques. • Types of temporal modification—rescission, backdated initial actions, backdated modification

• Legitimate reasons for after-the-fact modification of transactions
• Statutory and common law recognition of rescission
• Permissibility of backdating certain transactions
• Special use of rescission to save S corporation status
• Tax consequences of rescission and other corrective measures

This program may be offered on multiple dates. You may only claim MCLE credit for one showing. This is an audio-only program.

Opinions and positions stated by presenters of MoBarCLE programs are those of the presenters and not necessarily those of The Missouri Bar. This program is intended as information for lawyers in Missouri, in conjunction with other research they deem necessary, in the exercise of their independent judgment.