What can the defrauded party do regarding a contract that has been fraudulently entered?

When a contract has been entered into fraudulently, the defrauded party has the right to rescind the contract within a reasonable time. This means they can choose to void the contract and restore themselves to their original position before the contract was made, effectively canceling any obligations under the contract due to the deceit involved in its formation.

Rescission is a legal remedy available when misrepresentation or fraud is present. It allows the innocent party to exit the contract without being held liable for performance. While it's important that this action is taken within a reasonable timeframe, it is a crucial right designed to protect individuals from the consequences of fraudulent behavior.

The other options do not align with the rights available to a defrauded party. For instance, canceling the contract at any time implies absolute freedom without the constraint of time, which does not apply when fraud is involved. Completing the contract would mean fulfilling its terms despite the fraudulent circumstances, which defeats the purpose of seeking a remedy for the deception. Modifying the terms of the contract suggests that the contract can be altered to accommodate both parties, but in cases of fraud, the integrity of the agreement is compromised, making rescission the appropriate legal recourse.