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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]
In finance, a floating charge is a security interest over a fund of changing assets of a company or other legal person.Unlike a fixed charge, which is created over ascertained and definite property, a floating charge is created over property of an ambulatory and shifting nature, such as receivables and stock.
Jeckett (1553/54) has been cited as the earliest example of the Court of Chancery giving relief from a penal bond, [5] but by the middle of the sixteenth century, “Chancery was already intervening against penal bonds quite frequently” (34 cases being reported for study in the years 1544–1568, with probably as many passed over as routine ...
The statement explained that a bond defeasance is a process that sets aside and invests the remaining bond dollars in escrow to ensure that the principal and interest payments on the bonds are ...
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 Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans: Mar. 2004: Superseded by GASBS 74; 44.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 ...
Power of attorney. A power of attorney (POA) or letter of attorney is a written authorization to represent or act on another's behalf in private affairs (which may be financial or regarding health and welfare), business, or some other legal matter.
The solution was to merge the latter-day wadset and gage for years into a single transaction embodied in two instruments: (1) the absolute conveyance (the charter) in fee or for years to the lender; (2) an indenture or bond (the defeasance) reciting the loan and providing that if it was repaid the land would reinvest in the borrower, but if not ...
A recognizance is a form of bail, in which an accused is released from pre-trial detention with an incentive to ensure that they will appear before the court to face charges on a certain day in the future. A person may be required to provide sureties, being another person who will guarantee the attendance of the accused and agree to forfeit the ...