Cessure refers to the act of ceasing or discontinuing something, particularly in a legal context. It may be used to describe the termination of a contract, agreement, or legal obligation. In a legal context, cessure may involve the formal process of ending a legal relationship or obligation and may have specific legal implications and requirements.
“Cessure” refers to the termination or end of a right or interest, particularly in the context of long-term agreements such as mortgages or annuities, where specific conditions can trigger the termination of the agreement. For instance, if a tenant fails to pay rent, the landlord may have the right to reclaim the property. Historically, “cessure” was also used to describe a tenant who failed to fulfil their rental obligations or neglected their responsibilities.
Cessure” denotes the termination or cessation of a right or interest, particularly in the context of long-term arrangements established by settlements to secure portions or benefits for certain individuals. In such instances, it was customary to include a provision stipulating that the term would come to an end upon the fulfilment of certain conditions, such as the satisfaction of trusts or the occurrence of specified events (e.g., the death of an annuitant in cases where the term was established to secure an annuity).
Examples:
A provision of cessure is typically attached to lengthy terms established through mortgages, marriage settlements, or annuities, where the term is declared to be terminable upon the occurrence of a specific event. Until the event specified in the cessure provision occurs, the term remains in effect.
The cessure of a term, annuity, or similar arrangement occurs when it reaches its determined endpoint or conclusion.
These examples demonstrate how cessure is used to describe the ending of a right or interest, particularly in scenarios where a cessure provision is employed to specify when the term should conclude. This practice is common in lengthy terms of years established through settlements to secure benefits for the designated beneficiaries.
Cessure refers to the act of ceasing or discontinuing a particular activity or operation.
While cessure may not be a commonly used legal term, the concept of ceasing or discontinuing an activity is recognised and regulated under various laws.
No, a business cannot simply cease its operations without adhering to legal requirements. It must comply with applicable laws, such as notifying employees, settling outstanding debts, and fulfilling contractual obligations.
In general, an individual cannot unilaterally cessure their contractual obligations without facing legal consequences. Contractual obligations are legally binding, and breaching them may result in legal action or financial penalties.
Yes, in the real estate industry, cessure may be subject to specific laws and regulations. For example, landlords may have legal obligations to provide notice to tenants before cessure or to transfer property management responsibilities.
Failing to properly cessure can result in various legal consequences, such as breach of contract claims, lawsuits from affected parties, financial penalties, or damage to the entity’s reputation.
Yes, a business can resume operations after cessure, but it must comply with all legal requirements for reestablishment. This may include obtaining necessary licences, permits, or certifications, and fulfilling any outstanding obligations from the previous operation.
No, cessure is not the same as bankruptcy or liquidation. Cessure refers to the act of ceasing operations, while bankruptcy and liquidation involve specific legal processes for resolving financial difficulties or winding up a business.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 28th April 2024.
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