The word moratory has to do with allowing a delay of payment. If your friend agrees that you'll pay them back next week instead of this week, you've entered into an informal moratory agreement.
The word moratory comes from the Latin word morārī , meaning "to delay." It is generally used in legal contexts. A moratory law allows or defines the specific circumstances under which a debt or obligation may be postponed. Moratory legislation doesn't delete a debt; it only delays it — and interest may continue to accrue while the payment is on hold. During the Great Depression, several U.S. states passed moratory laws to stop banks from seizing people's farms, allowing families to stay on their land until the economy stabilized.