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 ?
Refer to our Form 10-Q filed with the Securities and Exchange Commission on November 6, 2015 for information about our suspension of certain rescissions and the number of rescissions suspended as of September 30, 2015.
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.
Regardless, the California Insurance Commissioner stated that "Illegal rescissions are a repugnant industry practice.
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.
The department is also ordering a re-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.
In the IRS's view, the taxpayers satisfied the two primary conditions for rescission: the rescissions occurred within the same taxable year, and the parties were restored back to their relative position.
The authors suggest that national environmental groups praised President Clinton for signing the budget rescissions bill with the so-called timber-salvage rider last July.
61 7, its FY '95 rescissions bill that would cut $13.
MINNEAPOLIS -- UnitedHealthcare, a UnitedHealth Group (NYSE: UNH) company, has ended its limited use of rescissions effective immediately, except in cases of fraud or intentional misrepresentation of material fact.