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 ?
This legislation provides an additional measure to keep unsafe drivers from getting behind the wheel, requiring the courts to explain the rationale for rescinding a statutory summary suspension."
[USA], Dec 19 ( ANI ): United States President Donald Trump has accused a media house of publishing "fake news" after the news outlet run a report stating that the former had talked about rescinding the nomination of Justice Neil M.
AFS joined the National Association of Manufacturers'comment letter in support of rescinding the 2015 rule so the agency can initiate a new regulatory process defining and regulating groundwater sources.
The state officials added in the letter that rescinding the program won't "require the federal government to remove any alien."
On the rescinding of a Media Bureau order regarding political ad disclosure complaints, Wharton added, "The FCC made the correct decision today to rescind the Media Bureau's unlawful order from earlier this year.
The rationale for the foregoing is that in contracts providing for automatic revocation, judicial intervention is necessary not for purposes of obtaining a judicial declaration rescinding a contract already deemed rescinded by virtue of an agreement providing for rescission even without judicial intervention, but in order to determine whether or not the rescission was proper.
Rescinding red cards is one small step to correcting an injustice - banning players for pathetic play-acting would be a bigger one.
Interim President Samuel Sullivan told the Augusta Chronicle that the school's board of trustees will vote on rescinding Cosby's 2003 honorary doctorate during a meeting next week.
law only required they notify Bank of America in writing within three years of closing that they were rescinding their mortgage because of disclosure problems.
What sparked the controversy was the action of the Vatican's Congregation for the Doctrine of the Faith to overrule the 1992 decision of the Congregation for Divine Worship and the Sacraments, rescinding approval of the New Revised Standard Version of the Bible.
The Planning Board was scheduled to consider Wednesday night rescinding the Arboretum Phase IV subdivision plan, which calls for the construction of Bittersweet Boulevard, Indigo Circle and Snowberry Circle and 70 associated lots.
The FBR is expected to take away the new tax regime of `capacity tax' before January, 2014 by rescinding rules relating to the capacity tax.