Forbearance

Learn about the definition for this legal term.

What is Forbearance?

The act of refraining from enforcing a right, obligation, or debt. For example, the act by which a creditor waits for the payment of the debt due him by the debtor, after it has become due and in default. The agreement to wait will be usually memorialized in a written forbearance agreement.

Further Reading

For more detailed information, see our related Contracts terms:

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