Take Back
Taking back is the store or supplier taking back sold items, undoing the purchase. This can be for various reasons. For example, that the product is not to your liking, does not fit or has a defect. Depending on the applicable legislation and the conditions applied by the seller, the customer will be refunded, given the opportunity to exchange the product or be issued a credit note.
Conditions are often placed on the ability to return products. For example, a maximum period and the obligation to show the original invoice or receipt. For online stores, these conditions are laid down by law. They must remind individuals of the trial period within which products can be taken back without giving a reason.
When reversing the sale of shares, business units and real estate, the term repurchase is also used.