layaway

layaway. An agreement between a retail seller and a consumer to hold goods for future sale. • The seller sets the goods aside and agrees to sell them to the consumer at an agreed price in the future. The consumer deposits with the seller some portion of the price of the goods, and may agree to other conditions with the seller, such as progress payments. The consumer receives the goods once the full purchase price has been paid. [Cases: Sales 24. C.J.S. Sales §§ 41–42.]

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词条贡献者

双语律师Akira，国际知名法学院法律专业，擅长翻译各类与地产开发相关的法律文件。