days of grace

days of grace
An additional three days following the date specified for payment in a negotiable instrument, allowed the obligor under the rule of law merchant and perhaps in a very few states, although not in respect of checks. Bull v First Nat. Bank, 123 US 105, 31 L Ed 97, 8 S Ct 62; an allowance of three days to the debtor to make payment, beyond the time at which by the terms of the contract, it becomes due and payable. Bell v First Nat. Bank, 115 US 373, 29 L Ed 409, 6 S Ct 105; an extended period, usually 30 days, under statute or contractual provision, for the payment of premiums under a life insurance policy. 29 Am J Rev ed Ins § 519; additional opportunity to obey appellate court order. 4 Am J2d A & E § 238.

Ballentine's law dictionary. . 1998.

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  • Days of grace — Grace Grace (gr[=a]s), n. [F. gr[^a]ce, L. gratia, from gratus beloved, dear, agreeable; perh. akin to Gr. ? to rejoice, cha ris favor, grace, Skr. hary to desire, and E. yearn. Cf. {Grateful}, {Gratis}.] 1. The exercise of love, kindness, mercy …   The Collaborative International Dictionary of English

  • days of grace — days of grace: grace period Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. days of grace …   Law dictionary

  • days of grace — grace period; period of grace 1) The interval between the establishment of a loan and the first due date for repayment. 2) Time given to defaulters to satisfy their obligations (see grace and notice provision). 3) The extra time allowed for… …   Big dictionary of business and management

  • days of grace — days′ of grace′ n. pl. days, usu. three, allowed for payment after a bill or note falls due • Etymology: 1840–50; trans. of L diēs grātiae …   From formal English to slang

  • days of grace — n. GRACE PERIOD …   English World dictionary

  • days of grace — Etymology: translation of Latin dies gratiae 1. : the days that immediately follow the day on which a bill or note becomes due on its face and that are allowed to the debtor in which to make payment 2. : grace period * * * days, usually three,… …   Useful english dictionary

  • Days of grace — Day Day (d[=a]), n. [OE. day, dai, dei, AS. d[ae]g; akin to OS., D., Dan., & Sw. dag, G. tag, Icel. dagr, Goth. dags; cf. Skr. dah (for dhagh ?) to burn. [root]69. Cf. {Dawn}.] 1. The time of light, or interval between one night and the next; the …   The Collaborative International Dictionary of English

  • days of grace — days, usually three, allowed by law or custom for payment after a bill or note falls due. [1840 50; trans. of L dies gratiae] * * * …   Universalium

  • days of grace — A number of days allowed, as a matter of favor or grace, to a person who has to perform some act, or make some payment (e.g., payment of insurance premium), after the time originally limited for the purpose has elapsed. In life insurance policies …   Black's law dictionary

  • days of grace — A number of days allowed, as a matter of favor or grace, to a person who has to perform some act, or make some payment (e.g., payment of insurance premium), after the time originally limited for the purpose has elapsed. In life insurance policies …   Black's law dictionary

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