Discount Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Discount, written in plain English, along with examples of how it is used.

What is Discount?

n. Less payment than the full amount due on the price of goods or services or a promissory note. Discounts are by agreement and indicate a situation which the holder of the long-term promissory note or material goods would sell it/them for cash which is less than face value.