Disaffirmance

Disaffirmance
The right to renounce a contract and thereby void any legal obligations resulting from the contract. To void the contract, the person must indicate he or she will not be bound by the contract. This can be explicitly expressed by the person in a declaration, or implied when the person performs an act that indicates he will not abide by the terms of the contract.

Disaffirmance occurs when a voidable contractual obligation is renounced. Minors or, in some cases, persons who can prove they lacked the capacity to enter a legally binding contract - intoxication, mental incompetence etc. - can disaffirm a contract and therefore avoid all legal obligations set forth in the contract.


Investment dictionary. . 2012.

Игры ⚽ Нужен реферат?

Look at other dictionaries:

  • Disaffirmance — Dis af*firm ance, n. 1. The act of disaffirming; denial; negation. [1913 Webster] 2. (Law) Overthrow or annulment by the decision of a superior tribunal; as, disaffirmance of judgment. [1913 Webster] …   The Collaborative International Dictionary of English

  • disaffirmance — noun see disaffirm …   New Collegiate Dictionary

  • disaffirmance — See disaffirm. * * * …   Universalium

  • disaffirmance — (Roget s Thesaurus II) noun A refusal to grant the truth of a statement or charge: contradiction, denial, disaffirmation, disclaimer, negation, rejection. Law: traversal. See AFFIRM …   English dictionary for students

  • disaffirmance — n. reversal of a decision, annulment, repudiation …   English contemporary dictionary

  • disaffirmance — dis·affirmance …   English syllables

  • disaffirmance — The repudiation of a former transaction. The refusal by one who has the legal power to refuse (as in the case of a voidable contract), to abide by his former acts, or accept the legal consequences of them. It may either be express (in words) or… …   Black's law dictionary

  • disaffirmance — The repudiation of a former transaction. The refusal by one who has the legal power to refuse (as in the case of a voidable contract), to abide by his former acts, or accept the legal consequences of them. It may either be express (in words) or… …   Black's law dictionary

  • disaffirmance — The repudiation of a voidable obligation or deed, sometimes by the subsequent conveyance of the same premises to a third person. Searcy v Hunter, 81 Tex 644 …   Ballentine's law dictionary

  • disaffirmance — “+ noun : the act of disaffirming : denial, negation, repudiation, annulment, reversal …   Useful english dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”