Meaning of “rescission” in the English Dictionary

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"rescission" in Business English

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rescissionnoun [ C or U ]

uk /rɪˈsɪʃən/ us /rɪˈsɪʒən/ formal LAW

the act of officially ending a law, taking back a decision, or saying that an agreement no longer exists:

All investors have rescission rights.
They are seeking a rescission of the merger and unspecified damages.

(Definition of “rescission” from the Cambridge Business English Dictionary © Cambridge University Press)