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rescission

   Also found in: Dictionary/thesaurus, Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.
rescission (ri·siˑ·zhn),
n the termination of a contract, either by a party legally entitled to do so or by court order.
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Buyers and their attorneys are also claiming that the Next Block Over closing doesn't nullify their right of rescission because it is a commercial unit, not a residential one.
22 Renwick buyers question first closing, demand money back by Taylor, Candace / The Real Deal
WOODLAND HILLS Health Net, hospitals settle suit: Health Net and the California Hospital Association reached a class-action settlement relating to rescission of patients' policies, officials said Tuesday, Under the settlement, Woodland Hills-based Health Net agreed to pay at least $1.
LOS ANGELES by Daily News (Los Angeles, CA)
A strategy employed by borrowers more and more often is to seek a rescission under the Truth-in-Lending Act (TILA), Ramsey said.
Delinquent borrowers more apt to litigate than mitigate by Mortgage Banking
 
 
 
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