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EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute.
     2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created during its existence. For example, the expiration of a partnership so dissolves it, that the parties cannot in general create any new liability, but it still subsists, to enable the parties to fulfill engagements in which the partners have engaged, or to compel others to perform their obligations towards them. See Dissolution; Contracts.
     3. When a statute is limited as to time, it expires by mere lapse of time, and then it has no force whatever; and, if such a statute repealed or supplied a former statute, the first statute is, i so facto, revived by the expiration of the repealing statute; 6 Whart. 294; 1 Bland, R. 664 unless it appear that such was not the intention of the legislature. 3 East, 212 Bac. Ab. Statute, D.

References in periodicals archive ?
Under such a scenario, the cumulative annual vacancy loss per unit is $999This changes for the better when a hypothetical community leverages LEM to create an expiration profile that mirrors its demand.
Of course, an expiration profile that perfectly coincides with demand isn't entirely realistic.
The short answer is 2013 is set to produce the most modest generic growth from brand patent expirations in several years.
Timing of brand patent expirations during the year has a significant impact on chain community pharmacy yearly sales and profit performance.
As with weekly options on S&P 500 futures, at expiration CME will calculate a special fixing price based on the weighted-average trading price of E-mini NASDAQ-100 futures in the last 30 seconds (2:59:30 - 3:00:00) prior to the 3:00 p.m.
By its very nature, arbitrage between the cash and (especially) futures markets require investors to unwind positions in the latter market on the day of expiration of contracts, in order to realise arbitrage profits.
We show that in a pure cost-of-carry environment, there are few economic benefits for either type investor from listing serial month contracts in addition to quarterly expirations. On the other hand, further segmenting the market lowers liquidity for any given expiration, thereby increasing transaction costs.
The debate specifically focused on stock price behavior around the expiration date of index derivatives.
LEM approaches the challenge of renewals and expirations in a systematic way.
LOUIS -- Expiration of a drug patent is no guarantee that a generic will immediately follow on the market, according to Express Scripts Inc.
However, during Southern California's strongest months, June through September, Western National Property Management will normally allow lease expirations at the maximum of 10 percent, because the vacancies are historically easier to fill during that period.
Diaphragmatic movement during expiration is entirely a passive recoil.