If you’ve really had it with your business partner, you may make a motion for rescission to dissolve your legal ties. Rescission refers to the canceling of a contract or other legal agreement.
The word rescission entered English in the17th century from the Latin word rescissio(n-), from resciss-, meaning “split again.” When a rescission takes place, you can think of it as two parties that are split up again — it’s as if they never had any ties together. You’ll most often hear the word used in a legal context. If someone violates part of a contract, then the other party might seek rescission, meaning the contract will be declared void.