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Finance Glossary

Just call us Bond. Amortized bond.

Over 700 finance terms, Shmooped to perfection.

Rescission

Definition:

This is a scary-sounding word that basically means to buy back what you had originally sold to someone. Why would you do that? Well, if your sale violated the securities act, then you are obligated to buy back the securities, plus interest less any income the security might have paid to the buyer. Of course, since the securities are most likely bogus, it's fairly certain that they didn't pay the buyer anything anyway.

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