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Moratorium - Dictionary Definition and Overview |
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Moratorium : (noun)
1: a legally authorized postponement before some obligation
must be discharged
2: suspension of an ongoing activity
Based on WordNet 2.0
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Moratorium : \Mor`a*to"ri*um\, n. [NL. See Moratory.] (Law)
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.
Based on WordNet (r) 2.0 (August 2003)
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