A grace period is a time past the deadline for an obligation during which a late penalty that would have been imposed is waived. Grace periods, which can range from a number of minutes to a number of days or longer, depending on the context, can apply in various situations, including arrival at a job, paying a bill, for meeting a government or legal requirement, or in many other situations.
In law, a grace period is a time period during which a particular rule exceptionally does not apply, or only partially applies. For the grace period in patent law, see novelty (patent).
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Famous quotes containing the words grace and/or period:
“The effort to understand the universe is one of the very few things that lifts human life a little above the level of farce, and gives it some of the grace of tragedy.”
—Steven Weinberg (b. 1933)
“Stupid word, that. Period. In America it means “full stop” like in punctuation. That’s stupid as well. A period isn’t a full stop. It’s a new beginning. I don’t mean all that creativity, life-giving force, earth-mother stuff, I mean it’s a new beginning to the month, relief that you’re not pregnant, when you don’t have to have a child.”
—Michelene Wandor (b. 1940)