rescission Hear it!

rescission Definition

re·scis·sion (ri siz̸h′ən)

noun

the act of rescinding

Etymology: LL rescissio

  • rescore
rescission Related Forms
re·scis·sory (ri sis′ə rē, -siz′-) adjective
rescission Law Definition

n

The termination of a contract unilaterally by a party for substantive legal reasons, such as the failure of the other party to perform its obligations; or, the mutual termination of a contract, with the result that both parties are restored to the status quo ante (see also rescind); a remedy that one may seek in a court of equity that results in a termination of the contract as though it had never existed. 
rescission Usage Examples

Preposition: of

  • contract: In such cases the consumer may require rescission of the contract or reduction of the price.
  • constitution: No amendment to or rescission of that constitution, in part or in whole, shall be valid unless approved by the Corporation.

Converse of object

  • claim: It is not limited to other grounds for claiming rescission.
  • survive: In the present case it clearly did survive rescission.
  • follow: In my opinion the Missives in this case unlike in Bamberger provide for a terminus ad quem following rescission.

Preposition: on

  • ground: What about rescission on other grounds, or claims for breach of statutory or common law duty?