re·trac·tion 
(rĭ-trăkshən)
(rĭ-trăkshən)n.
1. The act of retracting or the state of being retracted.
2.
a. The act of recanting or disavowing a previously held statement or belief.
b. A formal statement of disavowal.
3. The power of drawing back or of being drawn back.