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Definition of: moratorium
(môr′ə·tôr′ē·əm, -tō′rē-, mor′-) noun plural ·ri·a (-ē·ə) or ·ri·ums Law
An emergency act of legislation or a government edict authorizing a debtor or bank to suspend payments for a given period; also, the period during which it is, or is to be, in force. [<NL <LL moratorius. See MORATORY.]
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