Avoid

Avoid

Definition

(1) As used in contract law, to cancel a contract for reasons that include an intervening event that makes performance implausible or impossible, or one party's legal incapacity to have entered into a binding agreement. (2) As used in bankruptcy law, to cancel, annul, or invalidate an obligation or transaction. For example, bankruptcy trustees hold “avoidance powers” to cancel debts and block transfers of assets out of the bankruptcy estate.

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