Remission

Extinguishment or release of a debt.

A remission is conventional when it comes about through an express grant to the debtor by a creditor. It is tacit when the creditor makes a voluntary surrender of the original title to the debtor under private signature constituting the obligation.

The term remission is also used in reference to the forgiveness or condonation of an injury or offense, or the act through which a FORFEITURE or penalty is forgiven.