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deflection. n. 1. the act of deflecting or the state of being deflected. 2. the amount of deviation. 3. (General Physics) the change in direction of a light beam as it crosses a boundary between two media with different refractive indexes.
Defeasance. 1  The setting aside by a borrower of cash or bonds sufficient to service the borrower's debt. Both the borrower's debt and the offsetting cash or bonds are removed from the balance sheet. 2  1. A provision in a loan or bond removing it as a liability on a balance sheet if cash or a portfolio is set aside for debt service.