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Legal Definition of bona fide. 1a : characterized by good faith and lack of fraud or deceit a bona fide offer b : valid under or in compliance with the law retirement incentives made part of a bona fide employee benefit plan. 2 : made with or characterized by sincerity a bona fide belief.
The buzzle write up below will explain the meaning of defeasance (or defeazance) (french dfaire, to undo), in law, an instrument which defeats a clause mortgage granting borrower exclusive ownership property after debt is repaid,; A corporate finance technique where definition stipulation agreement provides for its cancellation under specified conditions.