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moratorium [(mawr-uh-tawr-ee-uhm)] A period of delay agreed to by parties to a dispute or parties who are negotiating. A moratorium may also be an authorized delay in the repayment of a loan, especially by a nation (as in a moratorium on war debts). The New Dictionary of Cultural Literacy, Third Edition Copyright Â© 2005 by Houghton Mifflin Company.
Prohibition is the act of prohibiting the manufacturing, storage in barrels, bottles, transportation and sale of alcohol including alcoholic beverages. The term can also apply to periods in the histories of countries during which the prohibition of alcohol was enforced.n 1919, Finland enacted prohibition, as one of the first acts after independence from the Russian Empire. Four previous attempts to institute prohibition in the early 20th century had failed due to opposition from the tsar.