Business / Real Estate / Rescission: The legal remedy of canceling, terminating or annulling a contract and restoring the parties to their original positions, a return to the status quo. Contracts may be rescinded due to mistake, fraud or misrepresentation and, there is no need to show any money damage.
Business / Finance / Right Of Rescission: The right to void a contract without any penalty within three days as provided in the Consumer Credit Protection Act of 1968. MORE
Business / Finance / Cooling-Off Period: To deliberately falsify the financial statements of a company. This is an illegal practice. MORE
Business / Finance / Rescind: To cancel a contract because of misrepresentation, fraud, or illegal procedure. MORE