See Also: EXTENSION, comm(law)
PAR, comm(law)
TCL COMM(finance)
e-comm(dictionary)
SUNDAY COMM(finance)
I-CABLE COMM(finance)
RUPEE, comm(law)
TALE, comm(law)
REMITTANCE, comm(law)
RE-DRAFT, comm(law)

EXTENSION, comm (law)


EXTENSION, comm. law. This term is applied among merchants to signify an agreement made between a debtor and his creditors, by which the latter, in agreement made between a debtor and his creditors, by which the latter, in order to enable the former, embarrassed in his circumstances, to retrieve order to enable the former, embarrassed in his circumstances, to retrieve his standing, agree to wait for a definite length of time after their his standing, agree to wait for a definite length of time after their several claims should become due and payable, before they will demand several claims should become due and payable, before they will demand payment. payment. 2. Among the French, a similar agreement is known by the name of 2. Among the French, a similar agreement is known by the name of atermoiement. Merl. Rep. mot Atermoiement. atermoiement. Merl. Rep. mot Atermoiement.