recission
/rɪˈsɪʒən/
noun
- The act of canceling or annulling a contract or legal agreement, often retroactively.
- A court may order recission of a contract if one party was misled during negotiations.
- The buyer demanded recission of the contract after discovering the house had major structural damage.
- The insurance company agreed to a recission of the policy and refunded all premiums.
Synonyms