Revoke (verb)

1. Cancel or annul (a decree, decision, or promise).
2. Take away or withdraw (a privilege, right, or possession).

Origin:

Late middle english: from latin revocare, from re- "back" + vocare "to call".

Examples:

1. The company revoked the offer due to the candidate's lack of qualifications.
2. The government revoked the license of the restaurant for failing to meet health standards.
3. He was forced to revoke his promise to take the children to the park.
4. The committee has the power to revoke any member who fails to attend meetings.
5. The school board decided to revoke the student's suspension after new evidence was presented.