MORATORIUM

moratorium

(noun) suspension of an ongoing activity

moratorium

(noun) a legally authorized postponement before some obligation must be discharged

Source: WordNet® 3.1

Etymology

Noun

moratorium (plural moratoriums or moratoria)

(legal) An authorization to a debtor, permitting temporary suspension of payments. [from 19th c.]

A suspension of an ongoing activity. [from 20th c.]

Synonyms

• (suspension of an ongoing activity): hiatus, interruption, recess; see also pause

Source: Wiktionary

Mor`a*to"ri*um, n. [NL. See Moratory.] (Law)

Definition: A period during which an obligor has a legal right to delay meeting an obligation, esp. such a period granted, as to a bank, by a moratory law.

Source: Webster’s Unabridged Dictionary 1913 Edition

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