Recision (more commonly spelled rescission) is a legal reme…

Recision (more commonly spelled rescission) is a legal remedy that cancels or undoes a contract, treating it as if it never existed (void ab initio). The primary goal is to restore both parties to their original positions before the agreement was formed, often requiring the return of money, property, or services exchanged under the contract.
Key aspects include:
Common Grounds: Recision is typically granted due to fraud, misrepresentation, material mistake, duress, undue influence, or a material breach of contract terms.
Types: It can be unilateral (one party cancels due to a defect like fraud), mutual (both parties agree to cancel), or judicial (a court orders the cancellation).
Distinction from Termination: Unlike termination, which ends a contract moving forward, recision erases the contract entirely from the beginning.
Usage Note: While "recision" is recognized as a valid legal term for cancellation, rescission is the standard and preferred spelling in contemporary legal practice and discourse.