Rescission

usgb/rɪˈsɪʒn/
noun

The action of canceling or ending a contract, agreement, or decision.

The real estate agency requested for a rescission of the contract because of a severe violation.
Visual representation of "rescission" - The action of canceling or ending a contract, agreement, or decision

Often appears as...

  • rescission of contract
  • rescission of decision

Usage tips

Formal

Technical

Definition 1 of 1
Visual representation of "rescission"
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Legally Binding

Rescission voids a contract as if it never happened, legally undoing it.

Illustration for Legally Binding
After discovering fraud, the judge declared a rescission of the business deal.
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Mutual Consent

Often, rescission requires all parties to agree, unless court-ordered.

Illustration for Mutual Consent
The partners reached a mutual rescission of their agreement amicably.
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Corrective Action

Rescission corrects a mistaken or unjust situation in contracts and agreements.

Illustration for Corrective Action
Due to the error in property boundaries, a rescission was necessary.
Visual representation of the word "Rescission"

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