(n)(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, Syn.rescission
The Collaborative International Dictionary of English (GCIDE) v.0.53Collaborative International Dictionary (GCIDE)
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 ]