Definitions

1. noun

The act of excluding or discharging a claim or liability by giving the creditor an equivalent benefit or right.

“The company’s offer of a free upgrade to the customer was an example of ademption, discharging its responsibility to provide a refund.”

2. noun

A legal discharge of a debt or obligation by giving the creditor an equivalent benefit or right.

“The contract included a clause for ademption, which would discharge the company’s liability if the customer failed to meet the terms.”