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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 ?
To celebrate Pakistan's Independence Day with full zeal, eateries have announced its special Independence Day deals on 30 to 50% discount rates.
According to ( Polygon , Amazon has rolled out discount coupons that make preordering the most anticipated RPG of today even more exciting.
Hyundai Motors India Limited, a subsidiary of Hyundai Motor Company (KSE: 005380), has announced discount schemes for June 2019.
Speaking to Arabian Business about hotel room rate discounts in Dubai, Sebastien Bazin said that the practice will stop as hotels are realising deep discounts do not increase demand.
The IRR allows media companies to give higher discounts to what is stipulated in the RA 11207.
The Ministry of Economy announced on Sunday the issuance of Decision No 311 of 2018 regarding the sales at discounted prices.
Students may look forward a 20 percent fare discount when the Senate passes this coming week a bill that seeks to institutionalize and expand the coverage of student fare discount to include land, air, water and rail transport all year round.
Macapindig also believes that students and persons with disabilities (PWD) were also denied of the 20% fare discounts.
500: Heavy discounts on T-shirts, flip-flops, wall stickers and a lot more
Mercedes-Benz Korea, which has maintained the top spot in the nation's imported car market over the past two years, is offering unprecedented discounts on its sedans to defeat BMW and Audi Volkswagen, which recently resumed its sales here.
In Holmfirth a three-bed house with a market value of PS108,000 was sold for just PS32,400 - a discount of PS75,600 - a stunning 70% off the market price.
Enter MY18TEAM into the discount code box during your registration process.