What is LawBrain?
It's a living legal community making laws accessible and interactive. Click Here to get Started »

Renewal

From lawbrain.com

Rehabilitation; reestablishment; substitution of a new right or obligation for another of the same or similar nature.

In regard to bonds, renewal signifies an extension of time for maturity. A stipulation for the renewal of a lease requires the making of a new lease, as opposed to an extension, which involves adding time to a leasehold agreement already in existence without executing a new instrument.

Contributors

Admin