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 ]
(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, Example:recission may be brought about by decree or by mutual consent