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rescission - 6 dictionary results

re⋅scis⋅sion

  [ri-sizh-uhn]
Use rescission in a Sentence
–noun
the act of rescinding.
Origin:
1605–15; < LL rescissiōn- (s. of rescissiō) a making void, rescinding, equiv. to resciss(us) (ptp. of rescindere to rescind, equiv. to re- re- + scid-, var. s. of scindere to cleave, tear in two + -tus ptp. suffix, with dt > ss) + -iōn- -ion
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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re·scis·sion   (rĭ-sĭzh'ən)   
n.  The act of rescinding.

[Latin rescissiō, rescissiōn-, from rescissus, past participle of rescindere, to rescind; see rescind.]
The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2009 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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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.
Webster's Revised Unabridged Dictionary, © 1996, 1998 MICRA, Inc.
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Rescission

The right of an individual involved within a contract to return to the identical state as before they entered into the agreement, due to courts not recognizing the contract as legally binding.

Investopedia Commentary

This is an important factor in the business world, as contracts are commonplace. Should a contract not be legally binding, most often courts will try to return the non-liable parties affected to the state they were in before the contract was entered.

Investopedia.com. Copyright © 1999-2005 - All rights reserved. Owned and Operated by Investopedia Inc.
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rescission

The cancellation of a previous exercise of an incentive stock option, generally because of a substantial drop in the price of the stock acquired through the exercise. Rescission results in the employee surrendering stock in exchange for money that was paid for the stock.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Main Entry: re·scis·sion
Pronunciation: ri-'si-zh&n
Function: noun
: the act, process, or fact of rescinding esp. a contract; specifically : the equitable judicial remedy of rescinding a contract in a suit brought by one of the parties —compare REFORMATION —re·scis·so·ry /ri-'si-z&-rE, -'si-s&-/ adjective
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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