Forborne
/fɔrˈbɔrn/
Definitions
- (adj.) Describing a debt or obligation that a creditor has agreed to refrain from enforcing, typically by forbearance agreement.
The lender accepted a forborne payment plan to avoid foreclosure.
Related terms
See also
Commentary
Use precise language when drafting forbearance agreements to clarify terms and avoid ambiguity regarding enforcement rights.
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