re·scis·sion

[ri-sizh-uhn]
noun
the act of rescinding.

Origin:
1605–15; < Late Latin rescissiōn- (stem of rescissiō) a making void, rescinding, equivalent to resciss(us) (past participle of rescindere to rescind, equivalent to re- re- + scid-, variant stem of scindere to cleave, tear in two + -tus past participle suffix, with dt > ss) + -iōn- -ion

non·re·scis·sion, noun
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2013.
Cite This Source Link To rescission
00:10
Rescission is always a great word to know.
So is lollapalooza. Does it mean:
an extraordinary or unusual thing, person, or event; an exceptional example or instance.
a children's mummer's parade, as on the Fourth of July, with prizes for the best costumes.
Collins
World English Dictionary
rescission (rɪˈsɪʒən) [Click for IPA pronunciation guide]
 
n
1.  the act of rescinding
2.  law the right to have a contract set aside if it has been entered into mistakenly, as a result of misrepresentation, undue influence, etc

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Example sentences
It cost much more to fire employees in a recession, only to hire and train new ones after the rescission ends.
Both offices said that yes, there is a right of rescission.
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