Rescind

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Rescind

To declare a contract void—of no legal force or binding effect—from its inception and thereby restore the parties to the positions they would have occupied had no contract ever been made.

rescind

v. to cancel a contract, putting the parties back to the position as if the contract had not existed. Both parties rescind a contract by mutual agreement, since a unilateral cancellation of a contract is a "breach" of the contract and could result in a lawsuit by the non-cancelling party. (See: rescission)

References in periodicals archive ?
The Land Tribunal president rescinded the default judgement on the basis that it was not clear whether he was served as the attorney representing him was no longer practicing.
Kashuv then described the questions and the responses he gave to school officials, and wrote that he was told this month Harvard rescinded its offer.
Michigan's Court of Appeals has ruled against a woman whose offer of conditional employment by a public entity was rescinded after she tested positive for marijuana even though she had a state-issued card allowing her to use the drug.
After the original decision was rescinded, a differently constituted House of Lords reconsidered the case but reached the same conclusion -- that former heads of state are not immune from extradition from Britain though, as frequently happens in such cases, he was released on medical grounds and returned to Chile where he died in 2006 aged 91.
And I wanted to be accommodating to the interests of the senators, and so I have rescinded the invitation", Bridenstine said in a phone interview with The Washington Post.
"Che had a red card last season that was rescinded and it was exactly the same tackle, exactly the same scenario.
Summary: New Delhi [India], Feb 22 (ANI): The Canadian High Commission on Thursday confirmed that the invitation to Khalistani terrorist to Prime Minister Justin Trudeau's reception has been rescinded.
The National Government is still valid and the agreement between the UNP and the UPFA has not been rescinded, Prime Minister Ranil Wickremesinghe, speaking in Parliament said.
ADAM SMITH'S booking and the subsequent one-match ban he will now serve on the back of it is another reminder that we need to change the law which says yellow cards can't be rescinded.
BROWNSVILLE, Texas, Muharram 20, 1439, October 10, 2017, SPA -- A South Texas city official who resigned after using a racial slur to describe two black assistant district attorneys has rescinded that resignation, according to AP.
DEAN KEATES says Manny Smith's sending off in Saturday's 2-1 loss at Maidstone United will be rescinded if there is any justice.
The Trump administration officially rescinded that policy earlier this month but said that DACA and some expanded DACA permits would remain in effect.