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Term of the Day: Moratorium
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Moratorium n
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pl: -riums or: -ria
[New Latin, from Late Latin, neuter of moratorius dilatory, from morari to delay, from mora delay]
1 a : an authorized period of delay in the performance of an obligation (as the paying of a debt)
b : a waiting period set by an authority
2 : a suspension of activity
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.