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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.

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.

References in periodicals archive ?
The logic behind this position that genetic blackness and the potential for realization of psychological Africanity are undifferentiated phylogenetically is not difficult given Atkinson's motivational and developmental paradigm formulations as they contain nothing to suggest that for the African personality construct hereditary or H-factor influences on the P-factor are nonexistent or discountable where existing.
The number of publications increased almost by 50% between the years 1986 and 1995, which is posited to reflect the emphasis on scholarly activity and increased amounts of research being performed by nurses; yet the number of publications then declined between 1986 and 2000, with no discountable reason for this noted.
The hidden language of the Jews: self-reproach, laden with ambivalence, not this or this either, seeing five sides to every issue, the old pilpul song and dance, obfuscation clowning as ingratiation, whose only motivation is: never offend, criticize only with a discountable barb: Genocide is made of words like these, Pound laughing.
90 days or more 15% between 30 and 90 days 5% less than 30 days 0% The airfare is charged separately from the land-only tour, and is not discountable. For those customers who wish to include the airfare in the package, it is calculated as followed:
For example, Charles Baudelaire, who was paid only 1,200 francs in discountable bills for an edition of Les Fleurs du Mal and Les Poemes en prose by Michel Levy in 1863, earned rive times less than his publisher for the 35,000 volumes of his translation of Edgar Allan Poe sold between 1856 and 1863 (Mollier, "Baudelaire" 161,166).