Rebate Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Rebate, written in plain English, along with examples of how it is used.
What is Rebate?
(N) Rebate is the special reduction allowed in the selling price of any product sold or otherwise transferred whereby the buyer need to pay only the reduced amount. The effect of rebate is the reduction in purchase cost to the buyer without reduction in selling price to the seller but seller incurs additional expenses in the form of rebate