Legal Definitions - moratory

Moratory describes something that pertains to a delay or a temporary suspension. It is often used in legal and financial contexts to refer to matters connected with a moratorium, which is an authorized postponement of an obligation or activity.

The term moratory is an adjective used to describe something that relates to or involves a temporary delay or suspension of an action, obligation, or activity. It often refers to a formal or official pause, similar to a moratorium.

Here are some examples illustrating the use of "moratory":

• Financial Relief Measures: During a widespread economic downturn, a national government might implement a moratory period on certain tax payments for small businesses. This means businesses are granted a temporary delay in their obligation to pay taxes, providing them with crucial financial breathing room.

  Explanation: The government's action is described as moratory because it creates a temporary, official delay in a financial obligation (tax payments), allowing businesses to defer these payments for a specified time.

• Legal Proceedings: In a complex environmental lawsuit, a judge might issue a moratory order, temporarily halting all construction activities on a disputed site until further environmental impact assessments can be completed. This pause allows for a thorough review before any irreversible actions are taken.

  Explanation: The judge's order is moratory because it imposes a temporary suspension or delay on a specific activity (construction) that is central to the legal dispute, pending additional information or review.

• Regulatory Policy: A city planning commission, concerned about rapid development overwhelming local infrastructure, might enact a moratory policy on issuing new residential building permits in a particular district for six months. This allows the city to update its zoning laws and infrastructure plans.

  Explanation: The policy is moratory as it establishes a temporary delay or suspension in the processing and approval of new residential building permits, giving the commission time to address urban planning challenges.