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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 ?
The first one is that the type of function that fits the discounted values of a primary reward depends on the relationship between the BMI of the participant and the caloric value of the reward; however, this option is unlikely, given the large number of studies that report the hyperbolic function as the best description of delay discounting of different primary rewards (e.g., Charlton & Fantino, 2008; Estle et al., 2007; Johnson et al., 2010; Odum, 2011; Odum et al., 2006; Odum & Rainaud, 2003; Petry, 2001).
We set the opportunity cost of going to college equal to the present discounted value of the wage earnings of a high school graduate that she would have earned by working for four years instead of going to college.
2035(a)." This statement appears to indicate that the marital deduction should be based on 7.72 percent of the value of the underlying assets that were included in the gross estate under Code [section]2036 as opposed to the discounted value of the 7.72 percent limited partnership interest actually received by the surviving spouse.
The online VCG mechanism aligns the incentives of agents with the social objective of following a decision policy that maximizes the expected total discounted value to all participants.
The discounted value at t=0 of the GLWB [V.sub.0] is the sum of the discounted values of the living benefits (LB) and death benefits (DB):
Thus, a discounted value of an interest in the FLP, rather than that of stock with which it was funded, was includible in a decedent's estate.
Thus, job creation in frictional labor markets places the focus on the cyclical behavior of the expected present discounted value of wages.
The gift is a discounted value and any appreciation in the asset after transfer to the trust escapes gift and estate taxes.
In other words, the interest-only note is based on the lower discounted value (often 20%-30%) while the non-discounted value of the shares grows within the trust.
If people are moving to a community and it doesn't have a positive school district and it doesn't have a good reputation they will avoid that property regardless of discounted value or location."
Buffett only purchases the company if the purchase price is below its discounted value. This provides Buffett a margin of safety.