rescind

verb | \ ri-ˈsind \ | re·scind

1. : to take back and make void rescinded its suspension of his license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 — compare cancel, terminate

3. : to make void by the same or by a superior authority rescind a regulation

   : to rescind something (as a contract)