deposit of earnest money
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earnest money — earnest mon·ey n: money used as earnest Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. earnest money … Law dictionary
earnest money — money given to a seller by a buyer to demonstrate the buyer s good faith. If the deal falls through, the deposit is usually forfeited. Bloomberg Financial Dictionary * * * earnest money earnest money ➔ money * * * earnest money UK US noun [U] ►… … Financial and business terms
Earnest Money — A deposit made to a seller showing the buyer s good faith in a transaction. Often used in real estate transactions, earnest money allows the buyer additional time when seeking financing. Earnest money is typically held jointly by the seller and… … Investment dictionary
earnest money — 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… … Black's law dictionary
earnest money — 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… … Black's law dictionary
earnest money — Deposit made when entering into a contract … American business jargon
earnest money — noun Money paid as a deposit to show intent to buy or to reserve an item to be purchased; especially, money accompanying an offer to buy real estate … Wiktionary
earnest money — A downpayment of part of the purchase price made to bind the bargain. A part payment of the purchase price, within the meaning of the statute of frauds. Goddard v Monitor Mut. Fire Ins. Co. 108 Mass 54; 49 Am J1st Stat of F § 265. A downpayment… … Ballentine's law dictionary
deposit — Verb: To put down, as a deposit of earnest money; to put money or things in a place for storage or safekeeping; to put money in a bank at interest or on checking account. Noun: An accumulation; money or an article deposited. See bank deposit;… … Ballentine's law dictionary
deposit — de·pos·it 1 /di pä zət/ vt 1: to place for safekeeping or as security may deposit the property with the court; esp: to put in a bank account 2 in the civil law of Louisiana: to place (movable property) under a deposit the depository can not make… … Law dictionary
