IPA: /rɪˈsɪʃən/
KK: /rɪˈsɪʃən/
The act of canceling or reversing a decision, agreement, or contract.
The company announced the rescission of the contract due to unforeseen circumstances.
Rescission → It is formed from "re-" (meaning again) and "scindere" (meaning to cut). The word refers to the act of cutting back or canceling a previous agreement or contract, effectively returning to a prior state.
Think of 'cutting back' ('scindere') something 'again' ('re-') — that's why rescission means to cancel or annul something.