cession
UK /ˈsɛʃən/ US /ˈsɛʃən/
noun 3
Definitions
noun
1
That which is ceded.
2
That which is ceded.
The reinsurance company accepted a 25% cession from the direct insurer.
3
The giving up of rights, property etc. which one is entitled to.
[…] Rashleigh, whose occasions frequently call him elsewhere, has generously made a cession of his rights in my favour; so that I now endeavour to prosecute alone the studies in which he used formerly to be my guide.
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