What happens when the president vetoes a bill?

I heard If the president vetoes a bill, it is sent back to Congress with a message from the president explaining the reasons for his veto.They can do nothing, and the bill dies. They can vote to override the veto. If 2/3 of each house vote to override the veto, it becomes a law without the president's approval.

on december 1, 1774, the continental association was created to boycott all contact with british goods. by reversing the economic sanctions placed on the colonists, the delegates hoped britain would repeal its intolerable acts.