rescission

Definition

The cancellation or annulment of a transaction or contract by mutual consent or by law.

Use rescission in a sentence

You may find that there has been a rescission and you will need to find a way to get your money back.

​ Was this Helpful? YES  NO 25 out of 25 people found this helpful.

I did not like the rescission process, because it always made me feel bad that the transaction had potential but did not live up to it.

​ Was this Helpful? YES  NO 25 out of 25 people found this helpful.

The rescission was effective immediately to make both parties whole and to effectively reverse the previously agreed upon transaction for the individuals.

​ Was this Helpful? YES  NO 25 out of 25 people found this helpful.

Show more usage examples...

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
right of rescission mutual agreement