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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 ?
BMW Korea, the most competitive rival to Mercedes-Benz Korea, has discounted 17 million won on the 3 Series sedan and 3 Series Gran Turismo since February.
Participants' evaluation of the discounted product (Cronbach's [alpha] = .87) and perceptual fluency (Cronbach's [alpha] = .97) were measured using the same scales as in Experiment 1.
Discount Locksmith LLC plans to continue expanding their discounted locksmith services nationwide and is actively seeking new locksmith partners across the US.
Availability of low or discounted rates doesn't mean the applicant can qualify.This is a big issue when the coverage is, say, life insurance, and the client has health and family history issues.
Pacific Western's Airport Express is offering a discounted rate to attendees who purchase tickets online at
Said another way, the value of a delayed reinforcer is discounted (reduced in value or considered to be worth less) compared to the value of an immediate reinforcer.
The cost of non-healthcare-related termination benefits for which the benefit terms establish an obligation to pay specific amounts on fixed or determinable dates should be measured at the discounted present value of expected future benefit payments (including an assumption regarding changes in future cost levels during the periods covered by the employer's commitment to provide the benefits).
Now, a small New Jersey company is trying to fill what it sees as a void -- discounted health care for part-time workers or employers too small to afford health insurance.
Program participants purchase prescription drugs at a discounted price of approximately 80 percent of the prescription price.
* What specific drugs that you are taking would be discounted?
enjoy discounted fares on American and Continental Airlines, discounts of up to 25% on Avis and Budget rental cars, hotel discounts at all Choice Brand Hotels and Cendant Brand Hotels, dining discounts of up to 20% at 8,000 participating restaurants nationwide through IDine, as well as numerous other benefits including long distance service at 3.9 cents/minute, all day/every day.