Source : Webster's Revised Unabridged Dictionary (1913)

Rescission \Re*scis"sion\ (r?-s?zh"?n), n. [L. rescissio: cf. F.
   rescission. See {Rescind}.]
   The act of rescinding, abrogating, annulling, or vacating;
   as, the rescission of a law, decree, or judgment.

Source : WordNet®

rescission
     n : (law) the act of rescinding; the cancellation of a contract
         and the return of the parties to the positions they would
         have had if the contract had not been made; recission may
         be brought about by decree or by mutual consent [syn: {recission}]