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moratorium :: legal definition


Moratorium - n. 1) any suspension of activity, particularly voluntary suspension of collections of debts by a private enterprise or by government or pursuant to court order. 2) in bankruptcy, a halt to the right to collect a debt. In times of economic crisis or a natural disaster like a flood or earthquake, there may be a moratorium on foreclosures or mortgage payments until the public can get back to normal activities and earnings.


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Other Law Terms - M

M. O. :: n. slang for modus operandi, the way or pattern in ... her crime. See also: modus operandi
magistrate :: n. 1) a generic term for any judge of a court, or ... ce of the peace preliminary hearing
Magna Carta :: n. Latin for "Great Charter," it was a document de ... s. It is also spelled Magna Charta.
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majority :: n. 1) the age when a person can exercise all norma ... t. See also: child infancy minority
make :: v. 1) to create something. 2) to sign a check, pro ... xchange check maker promissory note
make one whole :: v. to pay or award damages sufficient to put the p ... fault of another. See also: damages
maker :: n. 1) the person who signs a check or promissory n ... : check payee payor promissory note
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malice :: n. a conscious, intentional wrongdoing either of a ... cution murder public figure slander
malice aforethought :: n. 1) the conscious intent to cause death or great ... : first degree murder malice murder
malicious prosecution :: n. filing a lawsuit with the intention of creating ... vor of the victim. See also: malice
malpractice :: n. An act or continuing conduct of a professional ... eed. See also: errors and omissions
malum in se :: (mal-uhm in say) adv. Latin referring to an act th ... hibitum. See also: malum prohibitum
malum prohibitum :: (mal-uhm prohibit-uhm) adj. Latin meaning "wrong d ... lso: malum in se white collar crime
mandamus :: (man-dame-us) n. Latin for "we order," a writ (mor ... mandamus. See also: writ of mandate
mandate :: n. 1) any mandatory order or requirement under sta ... See also: mandamus writ of mandate
mandatory :: adj., adv. absolutely demanded or required. ... v. absolutely demanded or required.
mandatory joinder :: n. the required inclusion of a party in a lawsuit ... sues in the case. See also: joinder