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Discount; diminution of interest on capital lent in consideration of prompt repayment thereof; reduction of a stipulated charge that is not credited in advance but is returned subsequent to payment in full.

A tax rebate is a sum of money refunded to a taxpayer after full payment of the tax has been made.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.


1) n. a discount or deduction on sales price. A secret rebate given by a subcontractor to a contractor in return for getting the job is illegal, since it cheats the person hiring the contractor. 2) v. to give a discount or deduction.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

REBATE, mer. law. Discount; the abatement of interest in consequence of prompt payment. Merch. Dict. h.t.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
Rebatable arbitrage is the amount of investment earnings earned in excess of bond yield.
It is Liberal Party philosophy to increase the gap between the rebatable amount and the full amount for each of the items contained in the government schedule of payments for medical services.
In Pakistan, on the other hand, Shariah authorities object to the extra charge included on daily product basis in the contracts, which is rebatable if repayment is made on time.
The amount of rebatable arbitrage is computed as of each installment computation date and as of the final computation date.