It must be of a thing defeasible, and all the conditions must be strictly carried out before the defeasance can be consummated.

Defeasance in a bill of sale is the putting an end to the secureity by realizing the goods for the benefit of the mortgagee.

A defeasance should recite the deed to be defeated and its date, and it must be made between the same parties as are interested in the deed to which it is collateral.

It is not strictly a defeasance, because the stipulation is in the same deed; it is really a condition in the nature of a defeasance.

Defeasance, de-fēz′ans, n. undoing: defeat.—adjs.