days of grace

days of grace
A number of days allowed, as a matter of favor or grace, to a person who has to perform some act, or make some payment (e.g., payment of insurance premium), after the time originally limited for the purpose has elapsed.
In life insurance policies most states permit one month or thirty-one days.
In old practice, three days allowed to persons summoned in the English courts, beyond the day named in the writ, to make their appearance; the last day being called the "quarto die post". 3 Bl.Comm. 278.
In mercantile law, a certain number of days (generally three) allowed to the maker or acceptor of a bill, draft, or note, in which to make payment, after the expiration of the time expressed in the paper itself. Originally these days were granted only as a matter of grace or favor, but the allowance of them became an established custom of merchants, and was sanctioned by the courts (and in some cases prescribed by statute), so that they are now demandable as of right. Bell v. Bank, 115 U.S. 373, 6 S.Ct. 105, 29 L.Ed. 409; Renner v. Bank, 9 Wheat. 581, 6 L.Ed. 166.
See also grace period

Black's law dictionary. . 1990.

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  • Days of grace — Grace Grace (gr[=a]s), n. [F. gr[^a]ce, L. gratia, from gratus beloved, dear, agreeable; perh. akin to Gr. ? to rejoice, cha ris favor, grace, Skr. hary to desire, and E. yearn. Cf. {Grateful}, {Gratis}.] 1. The exercise of love, kindness, mercy …   The Collaborative International Dictionary of English

  • days of grace — days of grace: grace period Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. days of grace …   Law dictionary

  • days of grace — grace period; period of grace 1) The interval between the establishment of a loan and the first due date for repayment. 2) Time given to defaulters to satisfy their obligations (see grace and notice provision). 3) The extra time allowed for… …   Big dictionary of business and management

  • days of grace — days′ of grace′ n. pl. days, usu. three, allowed for payment after a bill or note falls due • Etymology: 1840–50; trans. of L diēs grātiae …   From formal English to slang

  • days of grace — n. GRACE PERIOD …   English World dictionary

  • days of grace — Etymology: translation of Latin dies gratiae 1. : the days that immediately follow the day on which a bill or note becomes due on its face and that are allowed to the debtor in which to make payment 2. : grace period * * * days, usually three,… …   Useful english dictionary

  • Days of grace — Day Day (d[=a]), n. [OE. day, dai, dei, AS. d[ae]g; akin to OS., D., Dan., & Sw. dag, G. tag, Icel. dagr, Goth. dags; cf. Skr. dah (for dhagh ?) to burn. [root]69. Cf. {Dawn}.] 1. The time of light, or interval between one night and the next; the …   The Collaborative International Dictionary of English

  • days of grace — days, usually three, allowed by law or custom for payment after a bill or note falls due. [1840 50; trans. of L dies gratiae] * * * …   Universalium

  • days of grace — A number of days allowed, as a matter of favor or grace, to a person who has to perform some act, or make some payment (e.g., payment of insurance premium), after the time originally limited for the purpose has elapsed. In life insurance policies …   Black's law dictionary

  • days of grace — An additional three days following the date specified for payment in a negotiable instrument, allowed the obligor under the rule of law merchant and perhaps in a very few states, although not in respect of checks. Bull v First Nat. Bank, 123 US… …   Ballentine's law dictionary

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