- earnest money
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earnest mon·ey n: money used as earnest
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- earnest money
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n.Money paid by a buyer on entering a contract as proof of his or her intention to pay the full price at the proper time.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
- earnest money
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n. A down payment, typically for real estate, that demonstrates the prospective purchaser's intent to proceed with the transaction.
Webster's New World Law Dictionary. Susan Ellis Wild. 2000.
- earnest money
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A sum of money paid by a buyer at the time of entering a contract to indicate the intention and ability of the buyer to carry out the contract. Normally such earnest money is applied against the purchase price. Often the contract provides for forfeiture of this sum if the buyer defaults. A deposit of part payment of purchase price on sale to be consummated in future.
Dictionary from West's Encyclopedia of American Law. 2005.
- earnest money
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A sum of money paid by a buyer at the time of entering a contract to indicate the intention and ability of the buyer to carry out the contract. Normally such earnest money is applied against the purchase price. Often the contract provides for forfeiture of this sum if the buyer defaults. A deposit of part payment of purchase price on sale to be consummated in future.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.