- The act of rescinding, abrogating, annulling, or
vacating; as, the rescission of a law, decree, or judgment.
Meaning of 'rescission' (Princeton's WordNet)
1 . rescission
[ n]
Meaning (1): - (law) the act of rescinding; the cancellation of a contract and the return of the parties to the positions they would have had if the contract had not been made
Example in sentence:
recission may be brought about by decree or by mutual consent