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Quick Answer. Defrag is a shortened form of the word defragment, a process of sequencing fragmented data on a hard drive or storage device. Defragmentation allows computers and other electronic storage devices to work more efficiently in general performance, as well as in the retrieving of requested files and sites.
Defeasance. 1  The setting aside by a borrower of cash or bonds sufficient to service the borrower's debt. Both the borrower's debt and the offsetting cash or bonds are removed from the balance sheet. 2  1. A provision in a loan or bond removing it as a liability on a balance sheet if cash or a portfolio is set aside for debt service.