earnest payment
index pledge (security)

Burton's Legal Thesaurus. . 2006


earnest payment
A partial payment (deposit) demonstrating commitment in a contractual relationship, and commonly made in real estate transactions. The remainder of the payment is due on a particular date or after a particular event has occurred. The seller keeps the earnest money if the buyer fails to make timely payment in full (or if there is a similar breach of the agreement).
Category: Business, LLCs & Corporations → Self-Employed Consultants & Contractors
Category: Real Estate & Rental Property → Buying a House
Category: Real Estate & Rental Property → Selling a House

Nolo’s Plain-English Law Dictionary. . 2009.

earnest payment
n.
   a deposit paid to demonstrate commitment and to bind a contract, with the remainder due at a particular time. If the contract is breached by failure to pay, then the earnest payment is kept by the recipient as pre-determined (liquidated) or committed damages.

Law dictionary. . 2013.

Look at other dictionaries:

  • Earnest payment — An earnest payment (sometimes called earnest money or simply earnest, or alternatively a good faith deposit) is a deposit towards the purchase of real estate or publicly tendered government contract made by a buyer or registered contractor to… …   Wikipedia

  • earnest payment —    Part payment or deposit made to demonstrate seriousness in the purchase of goods and services or to bind a contract, with the remainder due at a particular time. If the contract is breached by failure to pay the agreed balance, then the… …   Business law dictionary

  • earnest money — earnest mon·ey n: money used as earnest Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. earnest money …   Law dictionary

  • earnest — ear·nest / ər nəst/ n [Anglo French ernes(t) erles, alteration of Old French erres, plural of erre pledge, earnest, alteration of Latin arra, short for arrabo, from Greek arrhabōn, of Semitic origin]: something of value given by a buyer to a… …   Law dictionary

  • earnest — earnest1 [ʉr′nist] adj. [ME ernest < OE eornoste < eornost, earnestness, zeal, akin to Ger ernst, seriousness (OHG ernust) < IE base * er , to set oneself in motion, arouse > RUN] 1. serious and intense; not joking or playful; zealous …   English World dictionary

  • earnest — Synonyms and related words: abandoned, acquitment, acquittal, acquittance, advertent, afire, agog, alert, all ears, all eyes, amortization, amortizement, ardent, assiduous, attention, attentive, aware, awe inspiring, bail, binder, bond, bound,… …   Moby Thesaurus

  • earnest money — A sum of money paid by a buyer at the time of entering a contract to indicate the intention and ability of the buyer to carry out the contract. Normally such earnest money is applied against the purchase price. Often the contract provides for… …   Black's law dictionary

  • Earnest Money — A deposit made to a seller showing the buyer s good faith in a transaction. Often used in real estate transactions, earnest money allows the buyer additional time when seeking financing. Earnest money is typically held jointly by the seller and… …   Investment dictionary

  • earnest — I adj 1. fervent, fervid, perfervid, ardent, zealous, passionate, impassioned, intense; assiduous, diligent, intent, concentrated; firm, resolute, determined, Inf. bound and determined, decided, purposeful; serious, sincere, in earnest, Inf. for… …   A Note on the Style of the synonym finder

  • payment — n 1. remuneration, compensation, reimbursement; remittance, installment, handsel, Insurance. premium; settlement, liquidation, quittance, discharge, reckoning; refund, rebate. 2. expenditure, outlay, disbursement, expense; defrayal, contribution …   A Note on the Style of the synonym finder

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