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- Dictionaryde·fea·sance/dəˈfēzns/
noun
- 1. the action or process of rendering something null and void.
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noun
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Instrument which defeats the force or operation of some other deed or estate
Defeasance, in law, is an instrument which defeats the force or operation of some other deed or estate; as distinguished from condition, that which in the same deed is called a condition is a defeasance in another deed. The term is used in several contexts in finance, including: Wikipedia