payment

payment
The discharge of an obligation by the delivery and acceptance of money, or of something equivalent to money, which is regarded as such at the time by the person to whom the payment is due. State v Tyler County State Bank (Tex Com App) 277 SW 625, 282 SW 211, 42 ALR 1347. The performance of the consideration clause of a contract, or the satisfaction of a liability imposed by law, the term implying a debt from him who pays to him who is to receive, and further that when the payment is complete the debt will be discharged. United States Fidelity & Guaranty Co. v State, 169 Okla 59, 36 P2d 47.

Ballentine's law dictionary. . 1998.

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  • payment — I (act of paying) noun acquittal, acquittance, amortization, amortizement, clearance, compensation, defrayal, defrayment, disbursement, discharge of a debt, expenditure, liquidation, outlay, quittance, receipt in full, reckoning, recompense,… …   Law dictionary

  • Payment — Pay ment, n. [F. payment, paiement. See {Pay} to requite.] 1. The act of paying, or giving compensation; the discharge of a debt or an obligation. [1913 Webster] No man envieth the payment of a debt. Bacon. [1913 Webster] 2. That which is paid;… …   The Collaborative International Dictionary of English

  • payment — (n.) late 14c., from O.Fr. paiement, from paiier (see PAY (Cf. pay) (v.)) …   Etymology dictionary

  • payment — [n] fee; installment of fee acquittal, advance, alimony, amends, amortization, amount, annuity, award, bounty, cash, defrayal, defrayment, deposit, disbursement, discharge, down, fee, hire, indemnification, outlay, part, paying, pay off, pension …   New thesaurus

  • payment — ► NOUN 1) the action of paying or the process of being paid. 2) an amount paid or payable …   English terms dictionary

  • payment — [pā′mənt] n. 1. a paying or being paid 2. something that is paid 3. penalty or reward …   English World dictionary

  • payment — The amount required to repay a loan, including interest and fees. Bloomberg Financial Dictionary * * * payment pay‧ment [ˈpeɪmənt] noun 1. [countable, uncountable] FINANCE an amount of money that must be or has been paid, or the act of paying it …   Financial and business terms

  • payment — noun 1 paying/being paid ADJECTIVE ▪ immediate (esp. BrE), prompt ▪ late ▪ penalties for late payment of tax ▪ early (esp. BrE) ▪ …   Collocations dictionary

  • Payment — A payment is the transfer of wealth from one party (such as a person or company) to another. A payment is usually made in exchange for the provision of goods, services or both, or to fulfill a legal obligation. The simplest and oldest form of… …   Wikipedia

  • payment — The fulfilment of a promise, or the performance of an agreement. A discharge of an obligation or debt, and part payment, if accepted, is a discharge pro tanto. In a more restricted legal sense payment is the performance of a duty, promise, or… …   Black's law dictionary

  • payment — pay|ment W1S2 [ˈpeımənt] n 1.) an amount of money that has been or must be paid ▪ You can make a payment in any bank. ▪ Employees may occasionally receive bonus payments . ▪ The country cannot meet the payments on its £80 billion foreign debt. ▪… …   Dictionary of contemporary English

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