Extension

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Extension

An increase in the length of time specified in a contract.

A part constituting an addition or enlargement, as in an annex to a building or an extension to a house. Addition to existing facilities.

An allowance of additional time for the payment of debts. An agreement between a debtor and his or her creditors, by which they allow the debtor further time for the payment of liabilities. A creditor's indulgence by giving a debtor further time to pay an existing debt.

The word extension, when used in its proper and usual sense in connection with a lease, means a prolongation of the previous leasehold estate. The distinction between extension and renewal of lease is chiefly that, in the case of renewal, a new lease is requisite, while, in the case of extension, the same lease continues in force during an additional period upon performance of a stipulated act. An option for renewal implies giving a new lease on the same terms as those of an old lease, while an option for extension contemplates a Continuance of an old lease for a further period.

Request for additional time to file an income tax return beyond the due date.

extension

n. granting of a specific amount of extra time to make a payment, file a legal document after the date due, or continue a lease after the original expiration of the term.

EXTENSION, comm. law. This term is applied among merchants to signify an agreement made between a debtor and his creditors, by which the latter, in order to enable the former, embarrassed in his circumstances, to retrieve his standing, agree to wait for a definite length of time after their several claims should become due and payable, before they will demand payment.
     2. Among the French, a similar agreement is known by the name of atermoiement. Merl. Rep. mot Atermoiement.

References in periodicals archive ?
ISLAMABAD -- Accountability Court (AC) Islamabad has extended physical remand of former President Asif Ali Zardari for 8 days in fake bank accounts case.
ISLAMABAD -- The government on Friday extended, for the third time, the deadline for filing income tax returns for next 15 days.
Sources said this is the first time the polling duration has been extended across the board in the country's electoral history.
'Let us decide on the basis of the evidence presented dahilan ang sabi nila, tapos na ang problema doon tapos ngayon ay i-extend na naman (because they said the problem there is already over, and then now they want to extend it).
The PNR will extend its commuter rail's normal operating hours from the current 5 a.m.
Kathmandu, May 26 -- At a time when the government has already registered a bill proposing one-year extension of the term of Constituent Assembly (CA) in parliament secretariat and major political parties are intensifying negotiation to arrive at consensus on the government's proposal, Supreme Court on Wednesday categorically said that the term of CA cannot be extended for more than six months.
The assumption in the industry is that these extended hours are necessary to compete for new customers, retain existing customers and, ultimately, improve branch profitability.
These developments include the Nursing Council's recent decision on the surgical first assistant and colposcopist roles (see Extended roles outside RN scope of practice, Kai Tiaki Nursing New Zealand, December/January 2008/2009, p10); the Council's decision to consult with the profession on extended practice, and NZNO's guideline on extended practice.
"They need to be given time before this right is extended to more employees.
The nocturnal bat's tongue extends from an attachment point within the animal's ribcage.
Form 2750 is a waiver form used to extend the SOL on assessment of the trust fund recovery penalty.
Extend your right arm forward and take it up toward the ceiling.