Legal Definition and Related Resources of Defeasance
Meaning of Defeasance
condition annexed to an estate ( of an obligation , made with and annexed t the obligation at the time of the makin thereof. where the condition is containe in the same instrument creating the obligi tion, it is called condition. Where it contained in a separate instrument, it called defeasance. See Louis v Garrisoi (La.App.)64 So. 2d 254.
Defeasance Alternative Definition
(Fr. defaire, to defeat). An instrument which defeats the force or operation of some other deed or estate. That which is in the same deed is called a condition, and that which is in another deed is a defeasance. Comyn, Dig. Defeasance. A collateral deed made at the same time with a feoffment or grant, containing certain conditions, upon the performance of which the estate created by such feoffment or grant may be defeated. 43 Me. 371. An instrument collateral to a bond, and containing the condition thereof. 2 Bl. Comm. 342.
Financial Definition of Defeasance
Practice whereby the borrower sets aside cash or bonds sufficient to service the borrower’s debt. Both the borrower’s debt and the offestting cash or bonds are removed from the balance sheet.
Synonyms of Defeasance
noun
- abolishment
- abolition
- abrogation
- annulment
- breakup
- canceling
- cancellation
- cassation
- cessation
- close
- conclusion
- deprivation
- disallowance
- discharge
- discontinuance
- disendowment
- disestablishment
- dissolution
- end
- end of the matter
- ending
- expiration
- finish
- invalidation
- limit
- negation
- nullification
- ousting
- recall
- removal
- repeal
- replacement
- rescindment
- rescission
- retractation
- retraction
- reversal
- reversion
- revocation
- revokement
- stoppage
- supersession
- suppression
- undoing
- vacation
- voidance
- windup
- withdrawal
- Associated Concepts: condition
- defeasance clause
- defeasance of contract
- defeasance of title
- defeasible estate
Related Entries of Defeasance in the Encyclopedia of Law Project
Browse or run a search for Defeasance in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.
Defeasance in Historical Law
You might be interested in the historical meaning of this term. Browse or search for Defeasance in Historical Law in the Encyclopedia of Law.
Legal Abbreviations and Acronyms
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Notice
This definition of Defeasance is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.
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