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What (who) is rescission$69542$ - definition
REMEDY WHICH ALLOWS A CONTRACTUAL PARTY TO CANCEL THE CONTRACT
Rescind; Rescission of contract; Rescinded
rescission
WIKIMEDIA DISAMBIGUATION PAGE
Recission; Rescissions; Rescission (disambiguation)
n.
Rescindment, abrogation, repeal, revocation, annulling, cancelling, abolition.
rescission
WIKIMEDIA DISAMBIGUATION PAGE
Recission; Rescissions; Rescission (disambiguation)
n. the cancellation of a contract by mutual agreement of the parties.
See also: rescind
rescind
[r?'s?nd]
¦ verb revoke, cancel, or repeal (a law, order, or agreement).
Derivatives
rescindable adjective
Origin
C16: from L. rescindere, from re- (expressing intensive force) + scindere 'to divide, split'.
Wikipedia
Rescission (contract law)
In contract law, rescission is an equitable remedy which allows a contractual party to cancel the contract. Parties may rescind if they are the victims of a vitiating factor, such as misrepresentation, mistake, duress, or undue influence. Rescission is the unwinding of a transaction. This is done to bring the parties, as far as possible, back to the position in which they were before they entered into a contract (the status quo ante).
