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TeachMeFinance.com - explain Repudiation historic definition... Repudiation -- The rejection, in whole or in part, of a contract, debt or obligation. The term applies in particular to the rejection or mandatory scaling of its debt by a government. The word repudiation as applied to the rejection of a debt by a state was first used in 1841 when the state of Mississippi repudiated bonds issued to railroad companies which failed to comply with conditions on which they received them. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.