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 ?
May a borrower exercise the right of rescission simply by sending notice to the lender of intent to do so, or must the borrower tile a lawsuit demanding rescission?
In light of this potential shift in the government's position and certain concerns about whether recent letter rulings may have been liberal in their interpretation of the rescission doctrine, tax advisers might encourage clients with facts implicating issues of concern or potentially inconsistent with the contractual right of rescission to seek rescission rulings sooner rather than later.
salient if a right of rescission is allowed at common law where the
For example, where financial statements are submitted as part of the application, and the individuals signing the application believe the financial statements to be accurate at the time they are submitted, a right of rescission may still exist if it is later determined that the financial statements were inaccurate in some respect.
If any sale has been closed during that period, the franchisor also may need to consider offering a right of rescission to the franchisee.
6103(a)) applies when the right of rescission or mortgages subject to section 226.
The Division of Securities brings administrative proceedings against unlicensed finders who violate the law, sometimes obtaining orders restricting their actions, and sometimes forcing them or the companies they work for to offer a right of rescission.
18] A purchaser's right of rescission expires on the later of three days after the first tender of consideration is made by such purchaser to the issuer, or three days after the availability of the rescission privilege is communicated to the purchaser.
These statements are only predictions based on management's expectations as of the date of this press release, and involve known and unknown risks, uncertainties and other factors, including: the Company's ability to remain timely in all future filings with the Commission; whether a purchaser of ATM Shares believes a right of rescission is available and, if so, whether such purchaser acts on such belief; whether the Commission or other state regulatory authorities pursue enforcement actions or penalties and fines against the Company; the Company's ability to obtain additional funding; and such other risks and factors that are discussed in the Company's filings with the Securities and Exchange Commission from time to time, including under "Item 1A.
2018 the IBK Heyrothsberge has a right of rescission from the contract.