Grace
/ˈɡreɪs/
Definitions
- (n.) A legal extension of time granted to fulfill an obligation or pay a debt without penalty.
The borrower was given a grace period of 30 days before penalties applied.
- (n.) Mercy or leniency shown by a court or authority, often in sentencing or judgment.
The judge granted the defendant grace in light of mitigating circumstances.
Commentary
In legal contexts, grace usually refers to a temporary postponement or leniency, distinct from waiver or forgiveness; clarity in drafting grace periods is critical to avoid disputes.