Definitions of "cession"
  1. The process through which one party gives up or concedes something, such as a piece of property, to another party
  2. A situation where a debtor transfers or assigns property rights to a creditor
  3. In the context of insurance, when an insurer hands over liability to a reinsurer
  4. The process where control or sovereignty over a specific property or territory is transferred, typically through an agreement or treaty
  5. In the field of insurance, the financial amount of an insurer's liability that is transferred to a reinsurer
How to use "cession" in a sentence
  1. The debtor opted for cession of his property to pay off his debts.
  2. In the complicated world of insurance, cession of liability often occurs among insurers and reinsurers.
  3. After lengthy negotiation, the two countries arrived at a cession agreement over the disputed territory.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z