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repudiation

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re⋅pu⋅di⋅a⋅tion

  [ri-pyoo-dee-ey-shuhn]
Use repudiation in a Sentence
–noun
1. the act of repudiating.
2. the state of being repudiated.
3. refusal, as by a state or municipality, to pay a lawful debt.
Origin:
1535–45; < L repudiātiōn- (s. of repudiātiō), equiv. to repudiāt(us) (see repudiate ) + -iōn- -ion

Related forms:
re⋅pu⋅di⋅a⋅to⋅ry  [ri-pyoo-dee-uh-tawr-ee, -tohr-ee] , adjective
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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re·pu·di·a·tion   (rĭ-pyōō'dē-ā'shən)   
n.  

  1. The act of repudiating or the state of being repudiated.

  2. The refusal, especially by public authorities, to acknowledge a contract or debt.

re·pu'di·a'tion·ist n.
The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2009 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Financial Dictionary

Repudiation

When one party refuses to honor their terms in a loan contract.

Investopedia Commentary

This is often seen when a new government is elected and refuses to settle debts acquired by a previous government.

See also: Debt

Investopedia.com. Copyright © 1999-2005 - All rights reserved. Owned and Operated by Investopedia Inc.
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Legal Dictionary

Main Entry: re·pu·di·a·tion
Pronunciation: ri-"pyü-dE-'A-sh&n
Function: noun
: the rejection or renunciation of a duty or obligation (as under a contract); especially : ANTICIPATORY REPUDIATION
NOTE: A party aggrieved by a repudiation may consider a repudiated contract to have been breached and bring an action for relief.
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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