A more thorough explanation:

Retraction means taking back something that was previously stated. This can happen when someone confesses to a crime and then takes back their confession. It can also happen when someone breaks a contract before it is supposed to end. In some cases, retracting a statement can be a defense in a defamation lawsuit.

In a court case called Twin Coast Newspaper, Inc. v. Superior Court, a newspaper was accused of saying something untrue about someone else. The newspaper then printed a retraction, which means they said they were sorry and that what they said was not true. The court decided that the retraction was good enough and the newspaper did not have to pay any money for what they said.

This example shows how a retraction can be used to fix a mistake. The newspaper made a mistake by saying something untrue, but they fixed it by printing a retraction. This is important because it shows that people can make mistakes, but they can also fix them.