Tools: Learn New Words | Secure Password Generator | Startup Tools | PDF Generator

Rescission (Noun)

Meaning

(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 may be brought about by decree or by mutual consent".

Classification

Nouns denoting acts or actions.

Examples

  • The judge ruled that rescission was the appropriate remedy, voiding the contract and restoring the parties to their original positions.
  • Due to a lack of disclosure, the court ordered a rescission of the purchase agreement and directed the seller to return the buyer's deposit.
  • As a result of the plaintiff's claim, the insurance policy was subject to rescission and all benefits were denied.
  • Upon mutual consent, the two companies agreed to rescission of their partnership and began dissolving their business arrangements.
  • Rescission was necessary because of misrepresentations made during negotiations, allowing one party to undo the transaction entirely.

Synonyms

  • Recission

Hypernyms

  • Cancellation

Related Words

  • Rescind (verb)
  Copyright © 2024 Socielo Tech. All Rights Reserved. | Privacy Policy | Terms of use