Meaning of “lapse of time” in the English Dictionary

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"lapse of time" in Business English

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lapse of timenoun

uk us

[ C, usually singular ] also time lapse a period of time that passes:

There was a considerable lapse of time between agreement being obtained and work actually going ahead.

[ C, usually singular, or U ] LAW the reason for a legal agreement ending, because an agreed time limit has passed:

The contracts had been terminated because they had expired by lapse of time.

(Definition of “lapse of time” from the Cambridge Business English Dictionary © Cambridge University Press)