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rescission n: the act, process, or fact of rescinding esp. a contract
: the equitable judicial remedy of rescinding a contract in a suit brought by one of the parties compare reformation
re·scis·so·ry [ri-si-zə-rē, -si-sə-]
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.