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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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.


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)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in periodicals archive ?
The recent rescindment of the "one child policy" will also disincentivize saving, although this dynamic might take decades to play out.
However, the existential experience constituted upon the contemporaneousness of the work of art toward the viewer does not imply a rescindment of the previously established severance of Beckett's drama from the idea of conveying existential experience as a content through art as a medium.
When God interrupts nature's normal course, Aquinas explains, this should not be understood as a rescindment of or contradiction of it.
In summary, solipsistic dissipation of journalistic objectivity, secret contractual rescindment, and poststructural acquiescence exclude the nonfiction novel from the genre of documentary fiction and place works such as In Cold Blood in the all-embracing and all-submerging realm of ambiguous textual practice.