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Definition of Down payment
1. Noun. A partial payment made at the time of purchase; the balance to be paid later.
Definition of Down payment
1. Noun. (legal) A payment representing a fraction of the price of something being purchased, made to secure the right to continue making payments towards that purchase. ¹
2. Noun. By extension, any initial commitment signifying an intention to carry out a larger future commitment, even though no legal rights or obligations are secured. ¹
¹ Source: wiktionary.com
Lexicographical Neighbors of Down Payment
Literary usage of Down payment
Below you will find example usage of this term as found in modern and/or classical literature:
1. The Athenian Grain-tax Law of 374/3 B.C. by Ronald S. Stroud (1998)
"Accordingly, that portion of the money they pay into the public treasury before
embarking on the project is called the down payment. ..."
2. Department of Veterans Affairs: Improved Measures Needed to Assess by Davi M. D'Agostino, William B. Shear (2001)
"In exchange for the protection that the VA guaranty provides lenders, VA encourages
lenders to provide small or no-down-payment loans to veterans. ..."
Other Resources:
