Definitions for "rescission"
The cancellation or annulment of a transaction or contract by mutual consent or by law.
The act of rescinding, abrogating, annulling, or vacating; as, the rescission of a law, decree, or judgment.
A legal action in which a contract is declared void or cancelled. An insurer usually seeks a rescission of an insurance policy when there has been a material misrepresentation in the insurance application. See also misrepresentation.
A change to the appropriation that reduces spending authority that is granted by the Legislature in the current fiscal year.
Keywords:  notice, see
See "Notice of Rescission."