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Defeasance (or defeazance) (French: défaire, to undo), 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. [1] The term is used in several contexts in finance, including: [2]
Accounting and Financial Reporting for Impairment of Capital Assets and for Insurance Recoveries: Nov. 2003: Amended by various GASBS; 43. Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans: Mar. 2004: Superseded by GASBS 74; 44. Economic Condition Reporting: The Statistical Section—an amendment of NCGA Statement 1 ...
A defeasible estate is created when a grantor transfers land conditionally. Upon the happening of the event or condition stated by the grantor, the transfer may be void or at least subject to annulment.
Antigua today. Major James Vernon wished to pay off his debts to Mr Bethell’s estate and recover title of a sugar plantation in Antigua where he lived. Vernon had taken out a £278 mortgage on the land, and on 5 March 1729 he assigned the mortgage to Mr Bethell, to whom he sold sugar, and got from him further loans of £5000 to £6000.
Historically, the most significant type of penal bond was the penal bond with conditional defeasance. A penal bond with conditional defeasance combined in one document the bond (the promise to pay a specified amount of money) with the contractual obligation.
This strong market position generates substantial cash flows that support shareholder returns. Turning to the specifics, the pharmaceutical giant offers investors a 4.3% dividend yield backed by a ...
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From January 2008 to June 2009, if you bought shares in companies when James F. Orr III joined the board, and sold them when he left, you would have a -98.0 percent return on your investment, compared to a -37.4 percent return from the S&P 500.