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n. the payment of less than the full amount due on a promissory note or price for goods or services. Usually a discount is by agreement, and includes the common situation in which a holder of a long-term promissory note or material goods will sell it/them for less than face value in order to get cash now---the difference is the discount.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

DISCOUNT, practice. A set off, or defalcation in an action. Vin. Ab. h.t. DISCOUNT, contracts. An allowance made upon prompt payment in the purchase of goods; it is also the interest allowed in advancing money upon bills of exchange, or other negotiable securities due at a future time And to discount, signifies the act of buying a bill of exchange, or promissory note for a less sum than that which upon its face, is payable.
     2. Among merchants, the term used when a bill of exchange is transferred, is, that the bill is sold, and not that it is discounted. See Poth. De l'Usure, n. 128 3 Pet. R. 40.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
With this key finding revealed, researchers began to apply it to the understanding of consumer responses to price discounts. For example, it was found that when the regular price was presented in a larger font than the discount price (Coulter & Coulter, 2005), or when the regular price was printed on the left of the display and the discount price was printed on the right (Biswas, Bhowmick, Guha, & Grewal, 2013), consumers perceived the discount magnitude as larger and evaluated the discounted target more favorably because they were able to process the discount information more easily than either when the regular price was presented in a smaller font than the discount price or when the regular price was printed to the right and the discounted price to the left.
> Kent College Dubai - 10% discount applies to the tuition fees of third, fourth or subsequent siblings.
The rules nonetheless prohibit availment of double discounts such that a PWD who is also a senior citizen can only claim one 20-percent sales discount on a particular transaction, the BIR said.
The main shopping malls of the Capital and well as major outlets in Jinnah Super, Super Market, Karachi Company, F-10 Markaz and other markets are offering reasonable discounts on their stuff.
Insurance companies typically offer a bundling discount if you insure multiple vehicles, or if you have your auto insurance and homeowners or renters insurance with them.
6, a handwritten board near the front door announced that the restaurant would no longer offer the prayer discount. The restaurant declined to comment.
Target: Discount Bankcorp Inc, Discount Bank Latin America
The Financial Industry Regulatory Authority (FINRA) said that it has fined Merrill Lynch $500,000 for failing to provide sales charge discounts to customers on eligible purchases of Unit Investment Trusts (UITs).
"The 24X7 Badalta Discount Plan (DP) will not only help customers make significant savings on their bills, but also empower them by placing the power of tariffs in their hands.
As a rule, market discount is not includable in income by a cash basis investor before sale or disposition of the bond or note.
2 Negotiating a discount focuses the customer's attention on your price.