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recital. 1. An account or description of some fact or thing <the recital of the events leading up to the accident>.2. A preliminary statement in a contract or deed explaining the reasons for entering into it or the background of the transaction, or showing the existence of particular facts <the recitals in the settlement agreement…

recission. See RESCISSION. [Blacks Law 8th]

recision. See RESCISSION. [Blacks Law 8th]

reciprocity (res-<<schwa>>-pros-i-tee).1. Mutual or bilateral action <the Arthurs stopped receiving social invitations from friends because of their lack of reciprocity>.2. The mutual concession of advantages or privileges for purposes of commercial or diplomatic relations <Texas and Louisiana grant reciprocity to each other’s citizens in qualifying for in-state tuition rates>. — Also termed mutuality of benefits;…

reciprocal will.See mutual will under WILL. [Blacks Law 8th]

reciprocal trust.See TRUST. [Blacks Law 8th]

reciprocal trade agreement.An agreement between two countries providing for the exchange of goods between them at lower tariffs and better terms than exist between one of the countries and other countries. [Blacks Law 8th]

reciprocal interinsurance exchange.See RECIPROCAL EXCHANGE. [Blacks Law 8th]

reciprocal insurance exchange.See RECIPROCAL EXCHANGE. [Blacks Law 8th]

reciprocal insurance.See INSURANCE. [Blacks Law 8th]