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lapse
This term conveys a sense of slipping or sliding away, whether it is a mental slip, a passage of time, or a legal expiration. It often carries a negative connotation of negligence or failure, suggesting that something which should have been maintained was allowed to fade or break. In legal and financial contexts, it describes the automatic termination of a contract or policy. This specific usage is distinct from a general "end," as it implies the termination happened because a required action, such as a payment, was missed.
Meanings
A temporary failure of concentration, memory, or judgment.
"He had a momentary lapse of memory and forgot his own phone number."
An interval of time during which something has stopped or been neglected.
"After a long lapse in communication, the two old friends finally reunited."
The termination of a right, privilege, or agreement due to failure to renew it or meet a condition.
"The insurance policy was cancelled following a lapse in premium payments."