A legal permission to defer for a stated time the payment of a
bond, debt, cheque, or other obligation. This is done to enable the
creditor to pull himself round by borrowing money, selling effects, or
otherwise raising funds to satisfy obligations. The device was adopted
in 1891 in the Argentine Republics during the money panic caused by the
Baring Brothers' “difficulty,” a default of some twenty millions
Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894
More on Moratorium from Fact Monster:
- Capital Punishment: Here & Abroad - Death Penalty Update Here & Abroad by John Gettings The United States' debate on the ...
- Wilhelm Cuno - Cuno, Wilhelm Cuno, Wilhelm , 1876–1933, German chancellor (Nov., 1922–Aug., 1923). A ...
- December 2010 Current Events: Business News - Current events in the business news for the month of December 2010, including recession details, unemployment, and job loss.
- Antarctica: Antarctic Life - Antarctic Life There is no native human population in Antarctica, nor are there any large land ...
- Capital Punishment in the U.S. - Deadly Questions Study raises questions about capital punishment in the U.S. by David Johnson This ...