Business / Taxes / Lapse: A lapse causes a policy, right, or privilege to end because the person or institution that would benefit fails to live up to its terms or meet its conditions. For example, if you have a subscription right to buy additional shares of a stock at a price below the public offering price, you must generally act before a certain date. If that date passes, your right is said to lapse. Similarly, if you have a life insurance policy that requires you to pay annual premiums, the policy will lapse and you’ll no longer be covered if you fail to pay.

Other Words for Lapse

Lapse Noun Synonyms: slip, error, mistake, fault, failing, oversight, blunder, shortcoming, omission, lapsus, slip-up, fluff, goof
Lapse Verb Synonyms: gap, break, interval, intermission, interruption, pause, lacuna, hiatus, Prosody caesura, hold-up

Lapse Rate

Science / Weather / Lapse Rate: The change of an atmospheric variable, usually temperature, with height. A steep lapse rate implies a rapid decrease in temperature with height and is a sign of instability. MORE

Collapsed Lung

Health / First Aid / Collapsed Lung: Collapsed lung is a condition that causes the lining of the lung to pull away from the wall of the chest. The space between the lung and the chest fills with air, pushing the injured lung against the MORE

Adiabatic Lapse Rate

Technology / Aviation / Adiabatic Lapse Rate: The rate at which ascending air cools and descending air warms, given that no heat is added or taken away. The rate for dry air (DALR) is based on 5.4° F per 1000' altitude (1° per 100 meters). Mois MORE