Definitions for: Moratorium

[n] suspension of an ongoing activity
[n] a legally authorized postponement before some obligation must be discharged

Webster (1913) Definition: 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.

See Also: abeyance, delay, hold, postponement, suspension, time lag, wait