/læps/ – verb/noun
Definition: 1. sai sót, lầm lỡ, sa ngã, suy đồi;
2. hết hạn, chấm dứt;
3. mất hiệu lực;
4. chuyển dịch (quyền).
A more thorough explanation: In legal terms, “lapse” refers to the expiration or termination of a legal right or privilege due to the failure to exercise it within a specified time period or in accordance with certain conditions. It can also refer to the failure to meet a legal obligation or requirement, resulting in the loss of a right or benefit.
Example: The contract will automatically terminate if there is a lapse in payment for more than 30 days.