What does rescissory mean?
Relating to or given to rescission; capable of being rescinded. A rescissory clause in a contract is one that allows either party to cancel the agreement.
Example
"The rescissory clause in the contract gave the buyer the option to cancel the sale if the seller failed to deliver the goods on time."
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.