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Encyclopedia Britannica



MORATORIUM (from Lat. mora?i, to delay)

This article appears in Volume V18, Page 817 of the Encyclopedia Britannica.

Encyclopedia Britannica - Main :: MOL-MOS
MORATORIUM (from Lat. mora?i, to delay) , a
term
  used to
express
  a legal authorization postponing for a specified time the
payment
  of debts ,or obligations. The
term
  is also sometimes used to mean the period over which the
indulgence
  or period of
grace
  stretches, the authorization itself being called a moratory law. A moratory law is usually passed in some
special
  period of political or commercial stress; for instance, on several occasions during the Franco-
German
  War the
French
  government passed
moratory
laws
 . Their
international
  validity was discussed at length and upheld in Rouquette v. Overman, 1875, L. R. lo Q. B.
55


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