from The American Heritage® Dictionary of the English Language, 4th Edition
- n. The act of rescinding.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. An act of removing, taking away, or taking back.
- n. The undoing of a contract; repeal.
from the GNU version of the Collaborative International Dictionary of English
- n. The act of rescinding, abrogating, annulling, or vacating.
from The Century Dictionary and Cyclopedia
- n. The act of rescinding or cutting off.
- n. The act of abrogating, annulling, or vacating: as, the rescission of a law, decree, or judgment.
- n. The avoiding of a voidable contract.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- n. (law) the act of rescinding; the cancellation of a contract and the return of the parties to the positions they would have had if the contract had not been made
The $113 million rescission from the FY'09 Commercial Crew and Cargo budget, based on my review, would appear to still leave enough funds to cover milestone payments for both Orbital and SpaceX.
That has absolutely nothing to do with whether or not rescission is permitted under fraudulent pretenses on the part of the insurer.
In fact, that change -- an end to the practice of "rescission" -- would happen right away.
PatrickM, please be so kind as to explain rescission and why it is currently legal for insurance companies to drop people’s coverage after they become ill.
Major insurers said this week that they will soon end the practice known as rescission, which involves going back and scrutinizing the applications of people who develop costly illnesses and dropping their coverage based on even minor or innocent misstatements.
Obama will be requesting an alternative to the line-item veto known as rescission, which would give him -- and future presidents -- the power to submit a package of changes to spending bills that Congress would be required to vote on, up or down.
• Obama seeking more control over budget: He's requesting an alternative to the line-item veto known as rescission, which would give him -- and future presidents -- the power to submit a package of changes to spending bills that Congress would be required to vote on.
The remedy is called rescission, and it works like this:
That appears to be the most an insurance company has ever been ordered to pay in a case involving the practice known as rescission, in which insurance companies retroactively cancel coverage for policyholders based on alleged misstatements - sometimes right after diagnoses of life-threatening diseases.
Reform eliminates this practice, known as rescission, giving Americans security knowing their coverage cannot be taken away.