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Act by which creditor waits for payment of debt due him by debtor after it becomes due. Upton v. Gould, 64 Cal.App.2d 814, 149 P.2d 731, 733. A delay in enforcing rights. Shaw v. Philbrick, 129 Me. 259, 151 A. 423, 74 A. L.R. 290. Indulgence granted to a debtor. Dry Dock Bank v. American Life Ins., etc., Co., 3 N. Y. 354.
Refraining from action. The term is used in this sense in general jurisprudence, in contradistinction to "act."
Within usury law, term signifies contractual obligation of lender or creditor to refrain, during given period of ti me, from requiring borrower or debtor to repay loan or debt then due and payable. Hafer v. Spaeth, 22 Wash.2d 378, 156 P.2d 408, 411.