defeasance in a sentence
n.
📚 Grade Level: Grade 9, Grade 10, Grade 11, Grade 12
Definition
Defeasance is the legal annulment of a contract or obligation, typically achieved by fulfilling specific conditions.
Sample Sentences
- The concept of defeasance is crucial in understanding how certain obligations can be nullified under specific circumstances.
- In legal terms, defeasance refers to the annulment of a contract or obligation, often through the fulfillment of certain conditions.
- The defeasance clause in the real estate agreement allowed the buyer to cancel the purchase if the financing fell through.
- Investors must be aware of defeasance provisions in their bonds, as they can significantly affect the investment's security.
- After carefully reviewing the terms, the lawyer explained how the defeasance would impact the client's financial responsibilities.