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Definition
To invalidate an order by depriving it of the authority behind it, or a contract by restoring both parties to the pre-contract status quo—as if there was no contract.
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rescind is in the Agreements & Contracts and Corporate, Commercial, & General Law subjects.
rescind appears in the definitions of the following terms: rescission of contract, misrepresentation and sovereign authority
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http://www.businessdictionary.com/definition/rescind.html