2. One who fails to perform a duty; a delinquent; particularly, one who fails to account for public money intrusted to his care; a peculator; a defalcator.
DEFEASANCE De*fea"sance, n. Etym: [OF. defesance, fr. defesant, F. défaisant, p. pr. of defaire, F. défaire, to undo. See Defeat.]
1. A defeat; an overthrow. [Obs.] After his foes' defeasance. Spenser.
2. A rendering null or void.
3. (Law)
Defn: A condition, relating to a deed, which being performed, the deed is defeated or rendered void; or a collateral deed, made at the same time with a feoffment, or other conveyance, containing conditions, on the performance of which the estate then created may be defeated.
Note: Mortgages were usually made in this manner in former times, but the modern practice is to include the conveyance and the defeasance in the same deed.
DEFEASANCED
De*fea"sanced, a. (Law)
Defn: Liable to defeasance; capable of being made void or forfeited.
DEFEASIBLE
De*fea"si*ble, a. Etym: [See Defeasance.]