Retraction – this legal term comes from the Latin word “retraxit”. Literally it means withdrawing of previously done legal action. In modern practice, it has several different meanings, depending of where it has got application:
– In the publishing industry it refers to the act of correcting a false statement made in a newspaper. The publisher withdraws the statement already given and substitutes it with the correct one.
– In the Law of Contracts it details a withdrawal of offer of contract.
– In spite of court procedures, retraction is the act of taking back a document, initially presented to the court. Usually it happens in cases where the court shall accept the position which this document supports anyway, so it is not needed to keep it any longer in the file of the case.
Synonyms of “retraction” are “recantation” and “annulment”.