Waiver of compliance as void. Any condition, stipulation,
or provision binding any person to waive compliance with any provision of
this title or with any rule, regulation, or order thereunder shall be void.
Equitable results; rescission; severance.
A contract that is made, or whose performance involves,
a violation of this title, or of any rule, regulation, or order thereunder,
is unenforceable by either party (or by a nonparty to the contract who
acquired a right under the contract with knowledge of the facts by reason
of which the making or performance violated or would violate any provision
of this title or of any rule, regulation, or order thereunder) unless
a court finds that under the circumstances enforcement would produce a
more equitable result than nonenforcement and would not be inconsistent
with the purposes of this title.
To the extent that a contract described in paragraph
(1) has been performed, a court may not deny rescission at the instance
of any party unless such court finds that under the circumstances the
denial of rescission would produce a more equitable result than its grant
and would not be inconsistent with the purposes of this title.
This subsection shall not apply (A) to the lawful
portion of a contract to the extent that it may be severed from the unlawful
portion of the contract, or (B) to preclude recovery against any person
for unjust enrichment.
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