rescission
C2CEFR level
80/100Rarity: very rare
TechnicalRegister
Law noun
The cancellation of a contract, restoring the parties to their prior position.
The buyer sought rescission of the flawed contract.
Business noun
The cancellation of a contract from the outset, treating it as though it had never existed.
Rescission of the policy meant the premiums were refunded but no claim could ever be paid.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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