earnest money

A deposit paid (often in escrow) by a prospective buyer (esp. of real estate) to show a good-faith intention to complete the transaction, and ordinarily forfeited if the buyer defaults.

• Although earnest money has traditionally been a nominal sum (such as a nickel or a dollar) used in the sale of goods, it is not a mere token in the real-estate context: it may amount to many thousands of dollars.

— Also termed earnest; bargain money; caution money; hand money. Cf. BINDER(2); down payment under PAYMENT. [Cases: Vendor and Purchaser 69.1, 182. C.J.S. Vendor and Purchaser §§ 135, 137–138, 425.]

---

词条贡献者

译员Joanne，亚洲顶尖法学院国际贸易专业，专注翻译各种与复杂国际贸易有关的法律文件。