Legal Definitions - cessio

CESSIO

Cessio is a Latin word that means "cession" or "assignment". It refers to the act of giving up or transferring something to someone else.

• When a debtor assigns their property to a creditor to pay off a debt, it is called a cessio bonorum.
• When a company transfers ownership of a patent to another company, it is a cessio of the patent.

These examples illustrate how cessio involves giving up or transferring something to someone else. In the first example, the debtor is giving up their property to the creditor to pay off their debt. In the second example, the company is transferring ownership of the patent to another company.