Rebate

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Rebate

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.

rebate

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.