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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 ?
As far as Accor is concerned, we have never shown the way to discounting anything," he said.
Delay discounting, whereby the current value of reward hyperbolically decreases as the time until receiving that reward increases (Kirby & Marakovic, 1996), is closely linked to social discounting.
Before you succumb to the temptation to win new business by offering a discount, take a moment to consider these 10 problems associated with discounting.
Keywords: temporal horizon, delay discounting, impulsivity, neuroeconomics, trait, state
They did so by discounting (buying) DIs' existing short-term commercial credits (called "real bills," extended to bank customers to finance their shipments of output) at a discount rate that was competitive with market rates.
(1) A Federal Reserve Bank may lend to a depository institution either by making an advance secured by acceptable collateral under section 201.4 of this part or by discounting certain types of paper.
Most studies on discounting partial interests have relied on developing discounts based on the sales of real estate or corporate securities.
For a long-term cleanup, discounted totals will result in significantly lower overall costs, due to the exponential time element in the basic discounting equation DC=FC/(l+WACC)".
Key recommendations of this committee included the establishment of more objective and uniform terms and conditions for discounting across district Reserve Banks and the creation of seasonal credit and extended credit borrowing programs.
This discounting model can be used to estimate the market value.
To the extent discounting forecast debt-free net cash flow at the WACC results in a value indication of $25 million, and non-debt current liabilities represent $5 million, an indicated value of the firm's tangible and intangible assets is $30 million.
Table 4 illustrates the concepts of discounting using a hypothetical example of a program in which costs are incurred and benefits produced at different points in time.