Pronunciation: [ɹɪsˈɪʃən] (IPA) 
Rescission is a legal term that refers to the revocation or annulment of a contract. The spelling of rescission is /rɪˈsɪʒən/, with the "sci" being pronounced as "sh". This spelling can be confusing, as the usual spelling of a word that has this sound is with "ti" (for example, "action" or "nation"). The spelling of rescission comes from the Latin root "rescissio", and has been used in English law since the 16th century.
Rescission is a legal term that refers to the act of canceling, revoking, or annulling a contract or agreement. It is a remedy or right available to one or more parties involved in a contract when there has been a material breach of the agreement or when there are grounds for declaring the contract void from its inception. Rescission allows the parties to be released from the obligations and consequences of the contract, essentially restoring them to their pre-contractual positions.
In general, rescission is granted when there is a mutual mistake, fraud, misrepresentation, duress, undue influence, or when one party fails to fulfill essential terms of the contract. It serves as a means to rectify a mistake or to restore fairness in a contractual relationship. The rescission of a contract typically requires formal notice to the other party, and it may involve returning any consideration or benefits received under the contract.
Rescission is often sought in legal disputes as an alternative to other remedies such as compensation or specific performance, where the party seeks to undo the entire contractual arrangement. However, rescission is subject to applicable laws and regulations, and it is important to consult with legal professionals to understand the specific requirements and implications of seeking rescission in any given situation.
Act of abrogating or annulling.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
The word "rescission" has its origin in the Latin word "rescissio", which is the noun form of the verb "rescindere". In Latin, "rescindere" consists of two parts: "re-" which means "back" or "again", and "scindere" which means "to cut" or "to sever". In simple terms, "rescissio" implies the action of cutting back or undoing something. Over time, the term "rescission" has been adopted by various languages, including English, with a similar meaning of the act of repealing, revoking, or canceling a legal contract or agreement.
