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Encyclopedia Britannica - Main :: DAH-DEM |
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DEFEASANCE, or DEFEAZANCE (Fr. defaire, to undo) , in law, an instrument which defeats the force or operation of some other deed or estate
condition , that which in the same deed is called a condition is a defeasance in another deed. A defeasance should recite the deed to be defeated and its date, and it must be made between the same parties as are interested in the deed to which it is collateral. It must be of a thing defeasible, and all the conditions must be strictly carried out before the defeasance can be consummated. Defeasance in a bill
sale is the putting an end to the security by realizing the goods for the benefit of the mortgagee. It is not strictly a defeasance, because the stipulation is in the same deed; it is really a condition in the nature of a defeasance.End of Article: DEFEASANCE, or DEFEAZANCE (Fr. defaire, to undo) If you wish, you can link directly to this article.
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