👉 "Disaffirmance" is a legal concept that refers to the act of giving up or surrendering certain rights, powers, or obligations. It can be defined as the process of relinquishing or transferring ownership, control, or responsibility for something in exchange for another.
In the context of law, disaffirmance can involve various scenarios such as:
1.
Deemed Disaffirmance
: This is when a person gives up their legal rights to an entity by paying off its debts