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FrançaisTo cancel a contract. A contract may, for example, give one party a right to rescind if the other party fails to perform within a reasonable time.
Read MoreReserve currency
A national currency such as the US dollar, the European euro EUR, or the Swiss franc CHF, used by many countries to settle debit balances in their international accounts. Central banks generally hold a large portion of their monetary reserves…
Read MoreRestitution
In law, remedy for a breach of contract by which the parties are restored to their original positions before the contract was made or the breach occurred. Damages are distinguished from restitution in that damages compensate for a party who…
Read MoreRestricted letter credit
A letter of credit, the negotiation of which is restricted to a bank specially mentioned in the letter. See letter of credit.
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