Abatement, * contracts, is a reduction made by the creditor, for the prompt payment of a debt due by the payor or debtor. Wesk. on Ins. 7.
* From Bouvier's Law Dictionary, 1856 Edition. Please see Bouvier's Legal Abbreviations & Abbreviated References for help with obscure nomenclature & references.
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Abatement in Contracts Defined & Explained