moratorium

Definition of Moratorium in English :

1. moratorium

a legally authorized postponement before some obligation must be discharged

2. moratorium

suspension of an ongoing activity

WordNet Lexical Database for English. Princeton University. 2010.

Moratorium

noun plural -ria (-rɪə) or -riums

1.

a legally authorized postponement of the fulfilment of an obligation

2.

an agreed suspension of activity

nounWord forms: plural ˌmoraˈtoriums or ˌmoraˈtoria (ˌmɔrəˈtɔriə ; môrˌətôrˈēə)

1.

a legal authorization, usually by a law passed in an emergency, to delay payment of money due, as by a bank or debtor nation

2.

the effective period of such an authorization

3.

any authorized delay or stopping of some specified activity

n. pl. mor·a·to·ri·ums or mor·a·to·ri·a (-tôrē-ə)

1. Law

a. A lawful suspension of the payment of certain debts during a period of financial or civil distress.

b. The period during which such a suspension occurs.

2. A suspension of an ongoing or planned activity: a moratorium on timber cutting.