rescission


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Related to rescission: Equitable remedy

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 ?
An immigration forum on the rescission of the Deferred Action for Childhood Arrivals (DACA) was jointly conducted by the Pilipino Bayanihan Resource Center, the Integrated Bar of the Philippines (IBP) California Chapter, FilAm Star, FilAm Radio, and the Philippine Consulate General in San Francisco on September 13 at the PBRC Hall in Daly City, California.
This procedure basically causes the 90-day letter to become null and void, as if it never occurred, except that, if the 1RS grants the rescission, the running of the statute of limitation is suspended for the period the notice is outstanding prior to rescission.
This procedure basically causes the 90-day letter to become null and void, as if it never occurred, except that, if the IRS grants the rescission, the running of the statute of limitation is suspended for the period the notice is outstanding prior to rescission.
After giving a 51-months grace period for both contracts and in consideration of the continued disregard of the demands of GGGHI, the company served Angel a notice of notarial rescission.
Although Ohio and Michigan were the 33rd and 34th states to apply for a BBA Con-Con, the opponents of an Article V convention had succeeded in bringing about the passage of Con-Con rescission (cancellation) resolutions in 17 states during the years 1988 to 2010 (see "Rescinded Con-Con Applications, 1988-2010" map).
The rescission of CubaA's designation as a state sponsor of terrorism reflects our assessment that Cuba meets the statutory criteria for rescission," the statement said.
The lender had argued that a formal lawsuit must be filed in order to obtain the rescission relief requested.
DENSO, dissatisfied with the supplementary tax assessment order, has been filing a complaint with the Nagoya District Court for the rescission of the supplementary tax assessment order.
3) Rescission is an enormously powerful tool, and in a process where borrowers have little control, it remains the "singular source of borrower leverage in a legal and economic climate that remains generally inhospitable to homeowners.
Through this relationship, imortgage gains access to a new, well-capitalized source of private mortgage insurance with enhanced confidence of coverage and rescission relief available through National MI's delegated underwriting review process.
Kenny upheld provisions dealing with reinstatment of coverage, continuation of coverage, and procedures an insurer can use to justify the cancellation, rescission or non-renewal of a health policy.
Rescission allows an insurer to void the policy retroactively to the inception date, the idea being the insurer never would have issued the policy in the first place had it been provided with correct underwriting information.