rescission

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Related to recission: Rescission of contract

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 ?
today filed suit in Federal District Court for the Southern District of New York against Konover claiming, among other things, damages for breach of contract and alternatively, recission and restitution.
As a result of the recission of the FBMS agreement, Equitex recorded a one-time write-off during the second quarter of its investment in FBMS totaling $3,979,000 at September 30, 2000.
com announced the recission of a merger with Atlanta-based auction company, The Great Gatsby.
2 Costs related to litigation, SEC related legal costs and 401k recission costs 18.
An additional claim for recission and damages has also been asserted by the Company.
OTCBB:KMDX), today announced the recission of the Share Exchange Agreement (the "Kyomedix Agreement") with Kyomedix Corp.
It is WWWC's position that recission at this time is proper based upon a material failure of consideration as agreed upon by RangeStar.
Bryan Zwan, were served with a complaint seeking recission and damages in connection with a purchase by the company in November 1995 of shares of Common Stock of Digital Lightwave from an early investor in the company.
The lawsuit was filed on behalf of investors who purchased viatical settlements on life insurance policies that Future First agreed to rescind after the insurer, John Hancock Mutual Life Insurance Company, sued for recission in federal court.
The recission will be effective as of October 3, 1997.