Grace Period
Legal Definition and Related Resources of Grace Period
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Meanings, Synonyms, Etymology, Translations and More
Meaning of Grace Period
In law relating to insurance the words mean a short period of time during which an insurance policy stays in effect after the premium payment is due.
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Grace Period in Historical Law
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Legal Abbreviations and Acronyms
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Related Legal Terms
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Concept of Grace Period in the context of Real Property
A short definition of Grace Period: A period of time past the due date for a payment (mortgage, insurance, etc.) during which time a payment may be made and not considered delinquent.
Concept of Grace Period in the context of Real Property
A short definition of Grace Period: A period of time past the due date for a payment (mortgage, insurance, etc.) during which time a payment may be made and not considered delinquent.
What is Grace Period?
A definition of grace period is: In insurance law, a period beyond the due date of premium (usually 30 or 31 days) during which insurance is continued in force and during which payment may be made to keep policy in good stand'"ng. More details on the Encyclopedia. The grace period for payment of premium does not contemplate free insurance or operate to continue the policy in force after it expires by agreement of the parties. More details on the Encyclopedia. Miller v. More details on the Encyclopedia. Travelers Ins. More details on the Encyclopedia. Co. More details on the Encyclopedia., 143 Pa. More details on the Encyclopedia.Super. More details on the Encyclopedia. 270, 17 A. More details on the Encyclopedia.2d 907, 909. More details on the Encyclopedia. May also refer to period of time provided for in a loan agreement during which default will not occur even though payment is overdue.[1]
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Notes
"Grace Period" in the White America Dictionary (New York, Los Angeles, London, New Delhy, Hong Kong, 1989)