defeasance


de·fea·sance

noun \di-ˈfē-zən(t)s\

Definition of DEFEASANCE

1
a (1) :  the termination of a property interest in accordance with stipulated conditions (as in a deed) (2) :  an instrument stating such conditions of limitation
b :  a rendering null or void

Examples of DEFEASANCE

  1. <the kind of gross misconduct that could result in the defeasance of the athlete's contract to endorse their products>

Origin of DEFEASANCE

Middle English defesance, from Anglo-French, from defesaunt, present participle of defaire
First Known Use: 15th century

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