Definitions from Black's Law Dictionary: 2nd Edition and Ballentine's Law Dictionary as are available for each term in each dictionary.
  • Black's Law Dictionary: 2nd Edition

    In the civil and Scotch law. A release made by a creditor to his debtor of his debt, without receiving any consideration. AyL Pand. tit. 26, p. 570. It is a species of donation, but not subject to the forms of the latter, and is valid unless in fraud of creditors. Merl. Repert. The verbal extinction of a verbal contract, with a declaration that the debt has been paid when it has not; or the acceptance of something merely imaginary in satisfaction of a verbal contract Sandars' Just Inst (5th Ed.) 386.