What is Forbearance?
The act of refraining from enforcing a right, obligation, or debt. For example, the act by which a creditor waits for the payment of the debt due him by the debtor, after it has become due and in default. The agreement to wait will be usually memorialized in a written forbearance agreement.
Further Reading
For more detailed information, see our related Contracts terms:
Pass the Bar, Guaranteed
BarPrepHero Premium offers the most complete collection of real bar exam questions licensed directly from NCBE (the organization that writes the exam).