lapse

Definition

A period during which a right, privilege, or insurance policy is not in effect due to a failure to act.

Use lapse in a sentence

You must be prepared to handle the lapse of time and do your best to make something good happen for you.

​ Was this Helpful? YES  NO 10 people found this helpful.

There was a lapse in time and the policy was no longer in effect which screwed the entire process up quite a bit.

​ Was this Helpful? YES  NO 6 people found this helpful.

My boss was furious to learn that we had allowed our option to purchase shares in our competitor to lapse without being exercised due to carelessness.

​ Was this Helpful? YES  NO 4 people found this helpful.

Show more usage examples...

Related Terms

Mentioned in these terms

Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Laos New Kip reinstate