Moratorium
English Meaning
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.
- Law An authorization to a debtor, such as a bank or nation, permitting temporary suspension of payments.
- Law An authorized period of delay in the performance of an obligation.
- A suspension of an ongoing or planned activity: a moratorium on the deployment of a new weapon.