rescission

American  

[ri-sizh-uhn] / rɪˈsɪʒ ən /

noun

1. the act of rescinding.

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rescission British  

/ rɪˈsɪʒən /

noun

1. the act of rescinding

2. law the right to have a contract set aside if it has been entered into mistakenly, as a result of misrepresentation, undue influence, etc

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Other Word Forms

• nonrescission noun

Etymology

Origin of rescission

1605–15; < Late Latin rescissiōn- (stem of rescissiō ) a making void, rescinding, equivalent to resciss ( us ) (past participle of rescindere to rescind, equivalent to re- re- + scid-, variant stem of scindere to cleave, tear in two + -tus past participle suffix, with dt > ss ) + -iōn- -ion

Example Sentences

It held that the lower court’s rescission was an inequitable remedy and reinstated Musk’s compensation plan.

From Barron's

The five-judge appeals panel determined that McCormick ruled improperly in ordering a rescission, the tossing out of Musk's package in its entirety.

From Barron's

“We reverse the remedy chosen by the Court of Chancery – rescission of the 2018 compensation plan. We reinstate the 2018 plan and award the Plaintiff nominal damages,” reads part of the decision, posted on Friday.

From Barron's

“We reverse the remedy chosen by the Court of Chancery – rescission of the 2018 compensation plan. We reinstate the 2018 plan and award the Plaintiff nominal damages,” reads part of the decision, posted on Friday.

From Barron's

“Because it is the unmaking of an agreement, rescission is an extreme remedy and should only be granted by a court of equity when it is ‘clearly warranted,’” the court wrote in the unsigned opinion.

From The Wall Street Journal