Okuzeka
Contract & Commercial Law vocabulary · Breach & Remedies

Rescind

Meaning in contract & commercial law, with examples

/rɪˈsɪnd/verbCommon term

In contract & commercial law, rescind means: To cancel a contract from the beginning, so that the parties are put back in the position they were in before it was made.

In Turkish: sözleşmeden dönmek, iptal etmek, geriye etkili olarak ortadan kaldırmak

How it is used

The noun is 'rescission'. It is a typical remedy for misrepresentation and may be lost if the parties cannot be restored to their original position or if the injured party waits too long. Rescission looks backwards, while termination ends obligations only for the future.

Example sentences

  1. The buyer rescinded the contract and asked for the deposit back.

  2. Rescission is usually not possible once the goods have been resold to a third party.

Common collocations

  • rescind a contract
  • right to rescind
  • rescission of the contract
  • claim rescission
  • misrepresentationA false statement of fact made by one party that persuades the other party to enter into a contract.
  • terminateTo end a contract officially, for example because the other party has breached it, or by giving the notice that the contract allows.
  • voidHaving no legal effect at all from the start, so that the contract or clause is treated as if it never existed.
  • remedyA way the law helps a party whose rights have been breached, such as damages, specific performance, an injunction or termination.

More terms: Breach & Remedies

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This page explains English vocabulary for learners. It is not legal advice.