Legal Definitions - lapse

Lapse

In legal terms, a lapse refers to the termination or expiration of a right, offer, privilege, or gift. This can happen for several reasons, such as the passage of a specific time limit, the failure to meet a required condition, or a significant change in circumstances. When something lapses, it means that what was once valid or intended to be valid no longer has legal effect.

• Example 1: Lapse due to Passage of Time

  Imagine someone is injured in a car accident and considers filing a lawsuit against the at-fault driver. However, they delay taking legal action, and the deadline for filing such a lawsuit (known as the statute of limitations) passes. If they try to file the lawsuit after this deadline, their legal right to sue for those injuries will have lapsed.

  Explanation: The right to pursue legal action terminated because the specific time limit set by law for exercising that right expired.

• Example 2: Lapse due to Failure of a Condition

  Consider a situation where a university offers a scholarship to a prospective student, but the offer is contingent on the student maintaining a specific GPA during their first semester. If the student fails to achieve that required GPA, the scholarship offer will lapse.

  Explanation: The student's right to receive the scholarship terminated because they did not fulfill the necessary condition attached to the offer.

• Example 3: Lapse due to Change in Circumstance (Wills and Estates)

  A common scenario involves a will. Suppose a will specifies that a valuable antique watch should be given to the testator's (the person making the will) close friend, Sarah. If Sarah unfortunately passes away before the testator does, the gift of the watch to Sarah will lapse.

  Explanation: The intended gift failed because the beneficiary (Sarah) was no longer alive to receive it when the will became legally effective upon the testator's death. In many jurisdictions, "anti-lapse statutes" exist to prevent this outcome in certain family relationships, but without such a statute or specific wording in the will, the gift would lapse.