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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is limited as to time, it expires by mere lapse of time, and then it has no force whatever; and, if such a statute repealed or supplied a former statute, the first statute is, i so facto, revived by the expiration of the repealing statute; 6 Whart. 294; 1 Bland, R. 664 unless it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.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
We combine this volatility estimate with [Mathematical Expression Omitted], the risk-free rate, and time to expiration to calculate an expected call price, [Mathematical Expression Omitted], using the dividend-adjusted Black-Scholes model.(2) The deviation of this price from the observed option price on day t, [C.sub.t], is then divided by the observed call price from the previous trading day, [C.sub.t-1].
According to the company, the results of the rights offering, including the allocation of shares to be issued in the rights offering, are preliminary and subject to change pending the expiration of the guaranteed delivery period under the offering and finalisation of subscription procedures by the subscription agent.
The extension in the expiration period of all prepaid loads is part of government efforts to protect the rights of consumers in the telecommunications industry.
Although these studies provide insights into the various factors affecting the management and purchase of perishable grocery products, a void still exists in terms of understanding consumers' motivation to search for expiration dates while shopping for and before consumption of perishable products.
On the expiration date, the marketing asset is withdrawn from view in the RevBase system, although it remains in the repository.
"Asian workers were caught red-handed changing the expiration dates on a number of medical supplies and equipment using special material.
The expiration date is not a date that the drug stops being effective or potentially becomes toxic.
(2) A total of 122 drugs were studied representing 3,005 lots, with 88% of these extended at least 1 year past the expiration date, with an average extension of more than 5 years.
There really isn't incentive for pharmaceutical companies to extend the expiration dates, as it is profitable for patients to throw away expired medications and replace them with new prescriptions.
For medications that are used infrequently--analgesics, antihistamines, and medications for traveler's diarrhea --they appear to be stable for years past expiration, and there is little risk to the patient if the medications are not fully effective.
Lease expiration management (LEM) can have a powerful impact on a community's profits.
The Broadcast Mid-Term Report, otherwise known as FCC Form 397, is coming due for certain broadcast stations based on the their last license expiration date.