Rescind It is a strictly legal concept and as a consequence of wide application and use in this type of context and that refers to the act or decision by which a particular person, company, organization, corporation, among others, through a prior judicial declaration, will render without effect a contract, act or legal obligation that has previously been taken with another individual, company or organization.
Although it varies according to the legislation in question, generally, the person in whose favor the legal obligation or contract is remitted will be the one who has the possibility or power to terminate it. Although of course, obviously and for any reason that warrants it or a matter of force majeure, the counterpart may also request the nullity or termination of a contract or at least submit it to a judicial review to see if the fact of interrupt the same.
Termination, then, is one of the main causes by which a legal obligation can be put to an end, but not the only one of course (extinction, nullity, death, nonexistence), as it is among the most recurrent factors that put an end to these we find, for example, what we mentioned above, the breach of one of the parties, from which, the other will be requested to terminate and capable in case of having been established as one of the conditions of the contract, the party accused of non-compliance may, for his part, request a compensation amount because the contract or obligation was terminated before the expected time.
