Feminine noun. From the Latin rescissĭo, –ōnis, and this one from rescindĕre, formed by re- and scindĕre, rip.
This word is just used in legal context and it refers to the extinction or end of an existent contract.
The main difference between rescición and the resolución of a contract is that the rescición occurs for causes existent during its execution , e.g. an insolvent person who sells their assets to harm their creditors; and the resolución is the end of the contract for causes that appear after its execution, e.g. incumplimiento de contrato.
The verb is rescindir. dc

La palabra del día: Rescición

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