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rescission (ri·siˑ·zhn),

n the termination of a contract, either by a party legally entitled to do so or by court order.
References in periodicals archive ?
The law uses several techniques to restrict rescission rights.
1) Attempting to limit a buyer's special and consequential damages remedies under a sales contract, as in Hardwick, and accepting the attendant possibility that such limitation may ultimately prevent the developer's exemption from ILSA, and result in rescission rights for prior purchasers, as well as penalties from HUD or civil actions from prior purchasers, based on exposure to the economic risk analysis suggested by Hardwick; such provision may state, for example:
The total number of IFCO shares for which the Offer has been accepted within the acceptance period and within the additional acceptance period taking into account the rescission rights exercised amounts to 16,888,841 IFCO shares.
And at the Linden78, at 230 West 78th Street, buyers were given rescission rights in April.
Lions Gate is not offering holders of the notes any rescission rights based upon its public disclosure of this information.