Lift

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Lift

To raise; to take up.

To lift a promissory note (a written commitment to pay a sum of money on a certain date) is to terminate the obligation by paying its amount.

To lift the bar of the Statute of Limitations is to remove, by some sufficient act or Acknowledgment, the obstruction that it interposes. For example, some states will not permit an action to be instituted on a debt owed after ten years from the date of the debt. This is a ten-year statute of limitations. If the debtor acknowledges in writing that he or she owes the debt and will pay it on a certain date, this conduct lifts the bar of the statute of limitations so that the debtor can be sued on the debt for another ten years.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
WASHINGTON (CyHAN)- The SpaceX Falcon 9 rocket carrying NOAA's Deep Space Climate Observatory spacecraft, or DSCOVR, lifts off from Space Launch Complex 40 at Cape Canaveral Air Force Station in Florida.
LOS ANGELES (CyHAN)- The Delta II rocket lifts off from Space Launch Complex 2 at Vandenberg Air Force Base carrying the Orbiting Carbon Observatory, or OCO-2, satellite on a on a mission to study the Earth's atmosphere.
Then, when a predator strikes, the bug releases its hind legs and lifts off in less than one thousandth of a second.