Moratorium Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Moratorium, written in plain English, along with examples of how it is used.

What is Moratorium?

(n) Moratorium is the declaration of deferment of any or all activity till a future date or happening of a future event or conclusion of the present state of affairs which warranted such a moratorium. Eg. Moratorium passed prohibiting tax collection from public during the period of famines