Retraction Legal Meaning and Definition
Here is a simplified definition of the legal term Retraction.
Retraction (noun)
- The act of taking back, cancelling, or reversing a previous action, statement, or claim, often to restore the initial situation. This term can apply to various legal contexts, such as:
- Withdrawing a lawsuit or legal proceedings.
- Correcting or withdrawing a previous incorrect statement.
- Rescinding a claim that was originally put forward.
For example, in a legal suit, a plaintiff may decide to retract their claim, effectively ending the lawsuit.