Dation

/ˈdeɪʃən/ noun

Definition

The act of giving or granting something, especially in law; a transfer or conveyance of property or rights from one person to another.

Etymology

From Latin 'datio' (the act of giving), from 'dare' (to give). This legal term has been used since medieval times in formal property transactions and contracts.

Kelly Says

In legal terminology, 'dation' emphasizes the formal gift or transfer aspect of a transaction—'dation in payment' means giving something in settlement of a debt rather than paying with money.

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