moratorium

Definition of moratorium

Etymology

New Latin from Late Latin morātōrium, noun use of the neuter of morātōrius (“moratory, delaying”), from Latin morior (“I delay”) from mora (“delay”).

Pronunciation

• (UK) IPA: /ˌm�'.ɹəˈt�"ː.ɹɪəm/, /ˌm�"ː.ɹəˈt�"ː.ɹɪəm/
• (US) IPA: /ˌm�".ɹəˈt�".ɹiəm/

Noun

moratorium (plural moratoriums or moratoria)

1. (law) An authorization to a debtor, permitting temporary suspension of payments. [from 19th c.]
2. A suspension of an ongoing activity. [from 20th c.]

Further reading

A moratorium is a delay or suspension of an activity or a law. In a legal context, it may refer to the temporary suspension of a law to allow a legal challenge to be carried out.

For example, Animal rights activists and conservation authorities may request a fishing or hunting moratoriums to protect endangered or threatened animal species. These delays, or suspensions, prevent people from hunting or fishing the animals in discussion.

Another instance is a delay of legal obligations or payment. A legal official can order a delay of payment due to extenuating circumstances, which render one party incapable of paying another.