rescission Meaning, Definition & Usage

  1. noun (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.
    • recission may be brought about by decree or by mutual consent

WordNet

Re*scis"sion noun
Etymology
L. rescissio: cf. F. rescission. See Rescind.
Definitions
  1. The act of rescinding, abrogating, annulling, or vacating; as, the rescission of a law, decree, or judgment.

Webster 1913