rescission

(redirected from Right of rescission)
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  • noun

Synonyms for rescission

the act of reversing or annulling

Synonyms for rescission

(law) the act of rescinding

References in periodicals archive ?
In the hypothetical, no notice was given to the seven investors, including notice of their three-day right of rescission under the Florida Private Placement Exemption.
To hedge compliance risk: The Section 32 loan disclosure is deemed to be one of the "material disclosures" for purposes of the right of rescission penalty.
TILA calculations, tolerances and right of rescission analysis;
Instead of offering the plaintiff the right to rescind the agreement, as required by the offering plan, the defendant sponsor's 16th amendment to the offering plan states that purchasers have no right of rescission related to the first closing," attorneys Philip Hines and Marc Held wrote in the complaint.
Direct the Federal Reserve to provide greater leeway for bank borrowers to waive the three-day right of rescission so they can access their loan funds more quickly; * Permit regulators to adjust the examination intervals for qualified banks with up to $1 billion in assets; * Exempt banks with up to $5 billion in assets from the costly internal control and attestation and audit requirements of the Sarbanes-Oxley Act; * Permit qualified banks with up to $1 billion in assets to file a short- form call report in two quarters each year; and * Allow banks that do not share customer information the option to forgo the annual privacy notice to customers unless there has been a change in the bank's privacy policy.
In addition, it establishes the infamous right of rescission, under which, if any of the "material disclosures" is inaccurate, the consumer may unwind the entire transaction, including all interest paid, for up to three years after closing.
For nonpurchase home-secured transactions in which the right of rescission currently applies, the Board recommends that consumers also receive a notice of a pre-closing right to a refund at that time, to replace the existing rescission period in most instances.
The other items of the agenda, which were mainly concerned with an amendment to the Articles of Incorporation relating to the recommendations of the German Corporate Governance Code and the provisions of the German Corporate Integrity and Modernization of the Right of Rescission Act (UMAG), were approved in the form recommended by the management.
Buyers, who requested anonymity because they are still in negotiations with the developer, say construction delays at the site have triggered their right of rescission, and the first closing -- which would, if legitimate, require buyers to close on their units -- doesn't count because it is a commercial space, according to claims filed with the attorney general's office (a cheaper but legally binding alternative to filing a lawsuit).
that if not met would give Nostrum a right of rescission (which would trigger the return of its Bionutrics' stock).