Legal Definitions - cessor

The term cessor is an alternative spelling of cesser, which refers to the termination or ending of a right, interest, obligation, or liability. It signifies that something that was previously in effect or ongoing has now ceased to exist or apply.

• Example 1: Contractual Obligation

  A software development contract might include a clause stating that the developer's warranty obligations for bugs will undergo a cessor two years after the final product delivery, assuming all maintenance fees have been paid.

  Explanation: This illustrates cessor because the developer's legal responsibility to fix bugs under warranty *ends* or *terminates* after a specific period and condition are met. Their obligation to provide warranty support *ceases* at that point.

• Example 2: Property Rights

  In a deed, a grantor might reserve a life estate for themselves, with the provision that their right to occupy the property will experience a cessor upon their death, at which point full ownership transfers to the named beneficiaries.

  Explanation: Here, cessor signifies the *ending* of the grantor's legal right to possess and use the property. Their life estate *ceases* upon their passing, allowing the next owners to take full possession.

• Example 3: Financial Liability

  A loan agreement for a business startup might specify that a personal guarantee provided by one of the founders will have a cessor once the company achieves a certain revenue milestone for two consecutive fiscal years.

  Explanation: This demonstrates cessor as the *termination* of the founder's personal financial liability. Their obligation to personally repay the loan *ends* once the business meets the predefined success criteria.