18 Guam Code Ann. § 85302
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Terms Used In 18 Guam Code Ann. § 85302
- Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded.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 being withheld must be made available for obligation.
A consent which is not free is nevertheless not absolutely void, but may be rescinded by the parties, in the manner prescribed in Chapter 89, Article 2 of this Title, Rescission of Contracts.
SOURCE: CC § 1566.