Difference between revisions of "Rescission"

Revision as of 00:15, August 23, 2010

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-'''Rescission''' is the unmaking or undoing of a [[contract]]; repeal. [[Category:Legal Terms]]
+[[You'll have to lock the database permanently to stop me, admins!]]
-In [[government]], rescission is the cancellation of budget authority previously provided by [[Congress]]. The [[Impoundment Control Act of 1947]] specifies that the [[POTUS|President]] may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds must be made available for obligation.
-== External links ==
-*[http://dictionary.law.com/ Law Dictionary]
-*[http://research.lawyers.com/glossary/ Glossary of Legal Terms]
-[[category:United States Government]]
-[[Category:Budget terms]]