Rescind
Definition - Verb
[Latin rescindere to cut loose, annul, from re- away, back + scindere to cut, split]
1 : to take back and make void <~ed its suspension of his license>
2 : to abrogate (a contract or transaction) by mutual agreement, judicial decree, or unilateral declaration because of fraud, mistake, duress, misrepresentation, illegality, a breach, or another sufficient ground with both parties restored to their positions before the contract was made <denied that the other party had the right to ~ the contract>
compare, cancel, terminate
3 : to make void by the same or by a superior authority <~ a regulation>
: to rescind something (as a contract) Pronunciationri-'sind