farm relief

farm relief
The relief of burdensome indebtedness of farmers by means of refinancing farm mortgages at low rates of interest through governmental agencies. 3 Am J2d Agri § 30. A form of relief under the Bankruptcy Act, known as agricultural compositions and extensions, provided as a temporary measure in 1933 but continuing until March 1, 1949, and even beyond that date as to proceedings then pending the primary objective of which was to enable the farm debtor to hold onto his property and keep operating under extensions of time for payment or redemption. 9 Am J2d Bankr § 162.

Ballentine's law dictionary. . 1998.

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