DEFEASIBLE

defeasible,adj. (Of an act, right, agreement, or position) capable of being annulled or avoided <defeasible deed>. See fee simple defeasible under FEE SIMPLE . — defeasibility,n. [Blacks Law 8th]

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DEFEASANCE CLAUSE

defeasance clause.A mortgage provision stating that the conveyance to the mortgagee will be ineffective  if  the  mortgagor  pays  the  debt  on  time.  See  DEFEASANCE(3).  [Cases:  Mortgages 33. C.J.S. Mortgages §§ 22, 27, 30–34.] [Blacks Law 8th]

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DEFEASANCE

defeasance (di-feez-<<schwa>>nts), n.1.  An annulment or abrogation; VOIDANCE. 2. The fact or  an  instance  of  bringing  an  estate  or  status to  an  end,  esp.  by  conditional  limitation.  3.  A condition  upon  the  fulfillment  of  which  a  deed  or  other  instrument  is  defeated  or  made  void; a contractual  provision  containing  such  a  condition.  —  Also  termed …

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DEFAULT JUDGMENT

default  judgment.  1.  A  judgment  entered  against  a  defendant  who  has  failed  to  plead  or otherwise  defend against the  plaintiff’s  claim. [Cases: Federal Civil Procedure    2411; Judgment 92. C.J.S. Judgments §§ 195–196, 208, 235.] 2. A judgment entered as a penalty against a party who does not comply with an order, esp. an order to…

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DEFAULTER

defaulter. 1. A person who is in default. 2. A person who misappropriates or fails to account for money held in the person’s official or fiduciary capacity. — Also termed defaultant. [Blacks Law 8th]

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DEFAULTANT

defaultant (di-fawl-t<<schwa>>nt), adj. In default; having defaulted. See DEFAULTER. [Blacks Law 8th]

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