Defeasance

Business, Legal & Accounting Glossary

Definition: Defeasance




What is the dictionary definition of Defeasance?

Dictionary Definition


n. an antiquated word for a document which terminates the effect of an existing writing such as a deed, bond or contract if some event occurs.


Full Definition of Defeasance


A clause in a deed, lease, will or another legal document that completely or partially negates the document if a certain condition occurs or fails to occur. Defeasance also means the act of rendering something null and void. For example, a will may provide that a gift of property is defeasable — that is, it will be void — if the beneficiary fails to marry before the willmaker’s death.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/defeasance/
Modern Language Association (MLA):
Defeasance. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 27, 2021 https://payrollheaven.com/define/defeasance/.
Chicago Manual of Style (CMS):
Defeasance. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/defeasance/ (accessed: September 27, 2021).
American Psychological Association (APA):
Defeasance. PayrollHeaven.com. Retrieved September 27, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/defeasance/

Definition Sources


Definitions for Defeasance are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 27th April, 2020 | 0 Views.