rescission

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re·scis·sion

 (rĭ-sĭzh′ən)
n.
1. The act of rescinding.
2. Law The termination of a contract by mutual agreement or as a result of fraud or some legal defect.

[Latin rescissiō, rescissiōn-, from rescissus, past participle of rescindere, to rescind; see rescind.]

re·scis′so·ry (-sĭz′ə-rē, -sĭs′-) adj.

rescission

(rɪˈsɪʒən)
n
1. the act of rescinding
2. (Law) law the right to have a contract set aside if it has been entered into mistakenly, as a result of misrepresentation, undue influence, etc

re•scis•sion

(rɪˈsɪʒ ən)

n.
the act of rescinding.
[1605–15; < Latin rescissiō, derivative (with -tiō -tion) of rescindere to rescind]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.rescission - (law) the act of rescinding; the cancellation of a contract and the return of the parties to the positions they would have had if the contract had not been made; "recission may be brought about by decree or by mutual consent"
cancellation - the act of cancelling; calling off some arrangement
law, jurisprudence - the collection of rules imposed by authority; "civilization presupposes respect for the law"; "the great problem for jurisprudence to allow freedom while enforcing order"

rescission

noun
The act of reversing or annulling:
Translations

rescission

[rɪˈsɪʒən] N [of contract] → rescisión f; [of order] → anulación f (Jur) → abrogación f

rescission

n (esp Jur, of judgement, law, decision) → Aufhebung f, → Annullierung f; (of contract etc)Rücktritt m(of von); (of purchase)Rückgängigmachung f
References in periodicals archive ?
The panel gave a background on DACA, discussed the rescissions implications, and dispensed advice for affected Filipinos.
For a detailed listing of all states that have applied for a BBA Con-Con (1955-2015), all rescissions, and all reapplications, see "State Applications for a Balanced Budget Amendment Article V Convention" shown in the graphic on page 18 and available at http:// www.
Thus, rescissions have been respected when the parties are related and when the rescission did not occur pursuant to a right spelled out in the original contract.
The new master policy also spells out an improved approach to rescissions.
ACLHIC President Brad Wenger said in a statement that member insurers have no problem with the underlying law on policy rescissions and cancellations but believe that the guidance is unclear in places and difficult to implement in others, and that the court ruling is also unclear.
California regulators have accused health insurers of using rescissions to cancel policies issued to individuals who made innocent mistakes on applications or left out information irrelevant to their health problems.
Regardless, the California Insurance Commissioner stated that "Illegal rescissions are a repugnant industry practice.
Including $600 million in rescissions, this bill required $5.
The Impoundment Control Act of 1974 (ICA) was enacted to tighten congressional control over presidential impoundments and establish a procedure under which Congress could consider the merits of rescissions proposed by the President.
The accord resulted from negotiations that have been ongoing between HLB and Health Net since July 2008, and covers rescissions by Health Net that occurred between February 2004 and October 2007, according to CHA lawyers.
Hutchens said that more often than not, TILA rescissions are sought as legal leverage over the servicer or lender.
The department is also ordering are-review of all other rescissions over the past 4 years as part of its ongoing investigation into the rescission practices of five of the largest health plans that offer individual coverage to state residents.