what is rescinding policy means
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Definitions &Translations Wiktionary (0.00 / 0 votes) Rate this definition: rescind (Verb). To repeal, annul, or declare void; to take (something such as a rule or contract) out of effect. The agency will rescind the policy because many people are dissatisfied with it. Origin: From the rescindo, from re- + scindo.
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Reservation Of Rights Letters Identify Policy and Purpose of Letter. The reservation of rights letter should identify the policy under which the defense – and the reservation – is provided. The policy should be identified by policy number and type. This will aid in avoiding confusion where the insured has multiple policies.
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RESCISSION OF A CONTRACT The destruction or annulling of a contract.The right to rescind a contract seems to suppose not that the contract has existed only in appearance; but that it has never had a real existence on account of the defects which accompanied it; or which prevented its actual execution.
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- Reference listed drug means the listed drug identified by FDA as the drug product upon which an applicant relies in seeking approval of its abbreviated application. Resubmission means submission by the applicant of all materials needed to fully address all deficiencies identified in the complete response letter.pplicant means any person who submits an application or abbreviated application or an amendment or supplement to them under this part to obtain FDA approval of a new drug or an antibiotic drug and any person who owns an approved application or abbreviated application.
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rescission If the contract has been executed on one side, an agreement to rescind that is made without any new consideration is void, that is to say of no legal force or binding effect. Operation and Effect The mutual rights of the parties are controlled by the terms of their rescission agreement.
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rescind Verb [edit]. rescind ‎(third-person singular simple present rescinds, present participle rescinding, simple past and past participle rescinded). ( 1 transitive) To repeal, annul, or declare void; to take (something such as a rule or contract) out of effect.
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- As with most other types of insurance coverage, if you stop paying your long term care insurance premiums, your policy will most likely be canceled. However, there are some plans that offer a non-forfeiture benefit. A non-forfeiture benefit provides protection if you cancel your coverage. Non-forfeiture provides limited benefits, typically based on the amount of time you have had the coverage and the amount of premium payments you have paid.
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policy Definition of POLICY. 1. a: prudence or wisdom in the management of affairs b: management or procedure based primarily on material interest. 2.rigin of POLICY. alteration of earlier police, from Middle French, certificate, from Old Italian polizza, modification of Medieval Latin apodixa receipt, from Middle Greek apodeixis, from Greek, proof, from apodeiknynai to demonstrate — more at apodictic.
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Flexible response Flexible response. Flexible response was a defense strategy implemented by John F. Kennedy in 1961 to address the Kennedy administration's skepticism of Dwight Eisenhower's New Look and its policy of massive retaliation. Flexible response calls for mutual deterrence at strategic, tactical, and conventional levels, giving the United States the capability to respond to aggression across the spectrum of war, not limited only to nuclear arms.
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rescind rescind. v. to cancel a contract, putting the parties back to the position as if the contract had not existed. Both parties rescind a contract by mutual agreement, since a unilateral cancellation of a contract is a breach of the contract and could result in a lawsuit by the non-cancelling party. (See: rescission).
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- Define policy: prudence or wisdom in the management of affairs; management or procedure based primarily on material interest — policy in a sentence prudence or wisdom in the management of affairs; management or procedure based primarily on material interest…
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rescind Examples of rescind in a Sentence. 1  But Maria convinced Leverich that she had the authority to rescind the executor's decision to appoint him as biographer. 2  The Navy barred its personnel from his church, but he challenged the decree in federal court as a constitutional violation of freedom of religion.
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- rescind verb [T]. › to make a ​law, ​agreement, ​order, or ​decision no ​longer have any (​legal) ​power: The ​policy of ​charging ​air ​travellers for ​vegetarian ​meals ​proved ​unpopular and has already been rescinded.
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Government policy What is government policy? The term ‘government policy’ can be used to describe any course of action which intends to change a certain situation. Think of policies as a starting point for government to take a course of action that makes a real life change. Government uses policy to tackle a wide range of issues.
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Backdating Definition - What does Backdating mean? Backdating is the practice of assigning a date to a document that is earlier than the date the document was originally created or signed and finalized. Under most circumstances, backdating is considered fraudulent and illegal.
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vacate Verb. 1. rescind-cancel officially; He revoked the ban on smoking; lift an embargo; vacate a death sentence. countermand, repeal, revoke, annul, vacate, reverse, overturn, lift. go back on, renege, renege on, renegue on-fail to fulfill a promise or obligation; She backed out of her promise.
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Definition of 'cooling-off period' There will be a cooling-off period of fourteen days following the issuance of a new policy to allow a purchaser to cancel the agreement. A cooling-off period is a set time limit within which policyholders have the right to cancel an insurance policy without any penalty. The consumer must be given the opportunity to withdraw from the concluded contract without incurring liability during the cooling-off period. There will be a cooling-off period of fourteen days following the issuance of a new policy to allow a purchaser to cancel the agreement.
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Right of Rescission Right of Rescission: In a credit transaction in which a security interest is or will be retained or acquired in a consumer's principal dwelling, each consumer whose ownership is or will be subject to the security interest has the right to rescind the transaction.
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- When a law has been repealed, it means to rescind or annul by authoritative act. In other words, that law is no longer a law. Steve Konrad. + 70 others found this useful.
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- The two bathtubs have long been the symbol for Cialis, a drug to treat erectile dysfunction that competes against Viagra (as well as Levitra). I would imagine, dear reader, that the people at Eli Lilly, who have spent billions of dollars to market Cialis, will be profoundly depressed that you confused the two brands.
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- As part of the Consumer Credit Protection Act, it requires lenders to disclose information regarding loan origination fees, payment schedules, the APR, along with borrowers' rights to rescind their application within a certain timeframe without being charged.
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Natural Gas Choice Consumer Rights. 1  Consumers have the right to rescind their agreement without penalty within 10 business days after the date on the gas utility notice to the customer. 2  A consumer may not be charged an early termination penalty that exceeds $50 and all early termination penalties must be disclosed to consumers.
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revocation (ˌrɛvəˈkeɪʃən) n. 1. the act of revoking or state of being revoked; cancellation. 2. (Law) a. the cancellation or annulment of a legal instrument, esp a will. b. the withdrawal of an offer, power of attorney, etc. revocatory adj.
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Renewal and Reinstatement Provisions in a Health Insurance Policy Another of the statutorily required provisions in individual health insurance policies is the Reinstatement provision. This addresses what you can do if your policy lapses because you did not pay your premium when due or within the grace period. A typical provision.his wording makes it clear that the insurance company may only refuse to renew on a policy anniversary (or, if applicable, on the reinstatement anniversary), and that any refusal to renew will not negatively impact any claims that originated before the termination date of the policy. Reinstatement. (Typical wording*):
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Policy A policy is a deliberate system of principles to guide decisions and achieve rational outcomes. A policy is a statement of intent, and is implemented as a procedure or protocol.olicy differs from rules or law. While law can compel or prohibit behaviors (e.g. a law requiring the payment of taxes on income), policy merely guides actions toward those that are most likely to achieve a desired outcome.
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The Policymaking Process When they are terminated, it is usually because the policy became obsolete, clearly did not work, or lost its support among the interest groups and elected officials that placed it on the agenda in the first place.