from The American Heritage® Dictionary of the English Language, 4th Edition
- n. A rendering void; an annulment.
- n. The voiding of a contract or deed.
- n. A clause within a contract or deed providing for annulment.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. Destruction, defeat, overthrow.
- n. The rendering void of a contract or deed; an annulment.
from the GNU version of the Collaborative International Dictionary of English
- n. A defeat; an overthrow.
- n. A rendering null or void.
- n. A condition, relating to a deed, which being performed, the deed is defeated or rendered void; or a collateral deed, made at the same time with a feoffment, or other conveyance, containing conditions, on the performance of which the estate then created may be defeated.
from The Century Dictionary and Cyclopedia
- n. An undoing; ruin; defeat; overthrow.
- n. A rendering null and void.
- n. In law, a condition relating to a deed or other instrument, on performance of which the instrument is to be defeated or rendered void; or a collateral deed (in full, a deed of defeasance), made at the same time with a conveyance, containing conditions on the performance of which the estate created may be defeated.
Yesterday's term was defeasance, which is defined as:
The Bush administration argues that the transit systems never get their hands on any funds because of defeasance.
In a municipal defeasance program, a state or local government issues new debt to refund older debt with higher interest costs.
Spenser his law-terms: his _capias, defeasance_, and _duresse_; his
It is probable that the great English scholar, Alcuin, who has been called the Erasmus of the eighth century, had already suggested to the great king that the weakness of the Eastern emperors was a real defeasance of power and that the crown imperial might be his own.
Albert de Wichehalse (who received that name before it became so inevitable) was that same worthy boy grown up as to whom the baron had felt compunctions, highly honourable to either party, touching his defeasance; or rather, perhaps, as to interception of his presumptive heirship by the said Albert, or at least by his mother contemplated.
"At least, let me make him give you a deed of defeasance."
Such is the glowing and overwhelming character and defeasance of my client, who stands convicted before this court of oyer and terminer, and lex non scripta, by the persecuting pettifogger of this court, who is as much exterior to me as I am interior to the judge, and you, gentlemen of the jury.
Diversey Holdings, Inc. elected to exercise its covenant defeasance option with respect to its 10.50% senior notes due 2020 (the "DHI Notes") and Diversey, Inc. elected to exercise its covenant defeasance option with respect to its 8.25% senior notes due 2019 (the "DI Notes").
The ratings will expire upon the earliest of: (a) Oct. 3, 2018, the initial stated expiration date of the substitute series 2008 A LOC and July 2, 2014, the initial stated expiration date of the substitute series 2008 B LOC, unless such dates are extended; (b) conversion to the semi-annual, multi-annual or fixed interest rate modes; (c) any prior termination of the substitute LOC; and (d) defeasance of the bonds.