Letter of license

LETTER OF LICENSE, contracts. An instrument or writing made by creditors to their insolvent debtor, by which they bind themselves to allow him a longer time than he had a right to, for the payment of his debts and that they will not arrest or molest him in his person or property till after the expiration of such additional time.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.