rescission(redirected from Wrong or Default of Adverse Party)
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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.
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
the act of rescinding.
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|Noun||1.||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