Rescind – this legal term is part of the Law of Contracts within some legal systems. There it details the act of abrogation or cancellationof previously signedagreement, whereit pursues placing the parties in the same position they would have been if there has been been no contract. Rescission of a contract (in the meaning of invalidation of the agreement) can occur in two different situations:
1) a contract can be rescinded due to non-repairable defect in its establishing (for example misrepresentation, duress or undue influence) or
2) it can be replaced by new agreement by the parties, usually called “an annex”. It always has to happen before execution of the obligations in the contract.
Synonyms of rescind are the verbs “abolish”,“abrogate”, “annul”, “nullify” and others.