Cancellation of a contract without penalty. Regulation Z provides circumstances under which a borrower may cancel loan transactions involving nonpurchase money liens on the borrower's principal place of residence. The regulation permits such' rescission's during a three day period after the loan closing. Specific requirements apply to bank disclosures of the borrower's right to rescind.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). rescission. Retrieved September 22, 2026, from http://smartdefine.org/rescission/definitions/1162320 |
| Chicago | Barry Goldsmith. 2010. "rescission" http://smartdefine.org/rescission/definitions/1162320 (accessed September 22, 2026). |
| Harvard | Barry Goldsmith 2010, rescission, Smart Define, viewed 22 September, 2026, <http://smartdefine.org/rescission/definitions/1162320>. |
| MLA | Barry Goldsmith. "rescission" 21 October 2010. Web. 22 September 2026. <http://smartdefine.org/rescission/definitions/1162320> |