What is meant by defeasance? What conditions are necessary to achieve legal defeasance or in-substance defeasance?

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Governmental and Nonprofit Accounting

ISBN: 978-0132751261

10th edition

Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi

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Question Posted: Oct 25, 2014 04:57 AM

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What is meant by defeasance? What conditions are necessary to achieve legal defeasance or in-substance defeasance?

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Defeasance means that a debt is legally satisfied and any related liens and indenture provisions are ...View the full answer

Governmental and Nonprofit Accounting

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