Rescind means to take back, or withdraw. " The potential buyer, upon finding the concealed damage, decided to rescind his purchase offer."
The strong criticism on the mayor's bill left him with no choice but to rescind it.

can you rescind on purchase of a vehicle days later in California

Due to objections from the residents, the council decided to rescind their ordinance.

In most states, a buyer can rescind a major purchase under some circumstances.

We hope that the courts will rescind any bill that threatens to take our pension away.

It is not always possible to rescind an adoption. If an adoption has already gone through, you cannot rescind it.