kɛˈsiːoʊ, ˈsɛʃioʊ

Definitions

1. noun

a Latin term referring to an act of surrender or a formal abandonment of a right or claim, especially in law.

“The court ruled that the company’s cessio of its assets to the creditor was valid.”

2. noun

a transfer or assignment of a debt, especially in Roman law.

“The cessio of the debt to the new owner was accepted by the court.”

3. noun

a type of voluntary surrender or abandonment of a claim or right, especially in the context of bankruptcy or insolvency.

“The company filed for bankruptcy and made a cessio of its assets to the creditors.”