'Rescission' definitions:

Definition of 'rescission'

(from WordNet)
noun
(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" [syn: recission, rescission]

Definition of 'Rescission'

From: GCIDE
  • Rescission \Re*scis"sion\ (r?-s?zh"?n), n. [L. rescissio: cf. F. rescission. See Rescind.] The act of rescinding, abrogating, annulling, or vacating; as, the rescission of a law, decree, or judgment. [1913 Webster]