the right to have a contract set aside if it has been entered into mistakenly, as a result of misrepresentation, undue influence, etc
rescission in American English
(rɪˈsɪʒən)
noun
the act of rescinding
Derived forms
rescissory (rɪˈsɪsəri; rɪˈsɪzəri)
adjective
Word origin
LL rescissio
rescission in Insurance
(rɪsɪʃən)
noun
(Insurance: General)
Rescission is the termination of an insurance contract by the insurer because facts have been concealed or misrepresented by the proposer.
An insurer usually seeks a rescission of an insurance policy when there has been a material misrepresentation in the insuranceapplication.
A breach of utmost good faith, especially in regard to full and voluntary disclosureof the elements of risk or loss, is accepted as grounds for rescission of the insurance contract.
Rescission is the termination of an insurance contract by the insurer because facts have beenconcealed or misrepresented by the proposer.
Synonyms of 'rescission'
annulment, recall, setting aside, reversal
More Synonyms of rescission
(noun)
Synonyms
annulment
the annulment of the elections
recall
The appellant sought a recall of the order.
setting aside
reversal
a striking reversal of policy
repeal
a repeal of the age of consent law
cancellation
a march calling for the cancellation of debt
retraction
revocation
abrogation
a dereliction of duty and an abrogation of responsibility
invalidation
voidance
rescindment
Additional synonyms
in the sense of abrogation
a dereliction of duty and an abrogation of responsibility