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Meaning of defeasance

de•fea•sance

Pronunciation: (di-fē'zuns), [key]
— n. Law.
  1. a rendering null and void.
  2. a condition on the performance of which a deed or other instrument is defeated or rendered void.
  3. a collateral deed or other writing embodying such a condition.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.