Defeasance

Part of speech: noun (n.)

1. A defeat; an overthrow. [Obs.] After his foes' defeasance. Spenser.

2. A rendering null or void.

3. 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.