indulgence

Definition

The legally sanctioned act of letting someone off the hook, usually because you're feeling charitable or they've promised to behave better. In the financial world, this means a creditor decides 'you know what, I'll wait a bit longer for my money' without technically forgiving the debt. It's basically a timeout card you can play in the game of 'oops, I can't pay you right now.'

Example Usage

The bank granted the struggling startup a six-month indulgence on their loan payments, which basically meant 'we still own you, just not right now.'

Source: Merriam-Webster via Free Dictionary API; common in legal and financial contexts

Related Terms

Advanced

exculpatory clause

Contract language attempting to shield one party from liability, typically the one with better lawyers and more bargaining power. It's the 'not it!' of legal provisions, though courts won't always let you off the hook so easily.

⚖️ Legal

Advanced

chancery

Historically, the court where equity ruled supreme and rigid legal technicalities went to die—think fairness over formality. In the U.S., it became synonymous with equity courts where judges could use their discretion to deliver just outcomes. Now also refers to the building housing diplomatic missions, because apparently legal and diplomatic confusion needed to share a name.

⚖️ Legal

Intermediate

detriment

Something that causes harm, damage, or disadvantage—typically used in legal contexts to describe injury or loss suffered by a party. The opposite of benefit, and often the thing you're suing to recover from.

⚖️ Legal

Intermediate

abatement

The formal term for reducing, lessening, or eliminating something—usually taxes, nuisances, or pollutants. In real estate, it's the magical discount on property taxes that developers somehow always manage to secure. Think of it as the official way to say 'we're cutting you some slack,' except with legal implications and municipal paperwork.

⚖️ Legal

Intermediate

instruction

A formal direction or command, particularly one issued by a court to influence how a case proceeds or how a jury should think. Legal instructions are like GPS for courtrooms—they tell everyone exactly where they're supposed to go.

⚖️ Legal

Beginner

burden of proof

The obligation to prove your case, usually resting on the party making the accusation. It's why prosecutors have to actually demonstrate guilt rather than defendants having to prove innocence—though it doesn't always feel that way in the courtroom.

⚖️ Legal

Translate This Term

See “indulgence” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.

Try the Translator

Share This Term

Post on X Share on Facebook Share on LinkedIn

Discover a Term

Beginner

Screensaver

A computer program that displays moving images or patterns on a monitor when the device is idle, originally designed to ...