n

1. An action, declaration, document, or statement that corroborates, ratifies, verifies, gives formal approval, or assures the validity of something. See also advice and consent.
2. A court order enforcing an arbitratorÂ’s decision. See also award, order, and judgment.
3. In commercial law, an agreement, usually by a bank, to honor a letter of credit issued by someone else, usually another bank, and to seek reimbursement from the instrumentÂ’s issuer.
4. In property law, a conveyance of an interest in real property to one who has or claims an existing interest in the property, thereby curing a previous conveyance that was defective, increasing or making permanent a previously conveyed interest, or making avoidable estate certain and no longer voidable. See also deed.