Verb

1. To abrogate or cancel a contract putting the parties in the same position they would have been in had there been no contract. Rescission can occur in one of two ways: either a contract can be set aside (rescinded) because of some defect in its formation (such as misrepresentation, duress or undue influence) or it can be set aside by agreement by the parties, for example if they reach a new agreement.

Etymology

From the Latin rescind (I cut back), from re- (back) + scind (I cut).

Pronunciation

• IPA: /rsnd/, SAMPA: /rI"sInd/
• Audio (US) ^[?]

Verb

rescind (third-person singular simple present rescinds, present participle rescinding, simple past and past participle rescinded)

1. (transitive) To repeal, annul, or declare void.
   
   The agency will rescind the policy because many people are dissatisfied with it.

Related terms

• rescission

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