rescission

Noun

rescission (countable and uncountable, plural rescissions)

1. An act of rescinding: removing, taking away, or taking back.
2. The undoing of a contract; repeal.
   • According to him, they said, "'Resign or we'll fire you.'" Frein resigned and left the school building. However, that same day, he called his union representative, who advised him to withdraw his resignation, which he did, within 24 hours. The school district, however, refused to accept his...1983 December 3, Christine Guilfoy, “Houston Teacher Fired Over Ad Response”, in Gay Community News, volume 11, number 20, page 1
   • The House narrowly approved a rescissions package from the White House that aims to cancel billions in unspent funds from the prior fiscal year, much of which would not have been spent otherwise.2018 June 7, Ashley Killough, “House approves package that would cut $1 billion in spending”, in CNN, archived from the original on 15 Jun 2018