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 6 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There was a lapse in time and the policy was no longer in effect which screwed the entire process up quite a bit.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 10 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 5 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