Definition & Meaning of "layaway"in English

Layaway

a purchasing contract by which a retailer agrees to hold merchandise secured by a deposit until the price is paid in full by the customer

Grammatical Information

Animacy status

Abstract

Composition

Compound

Countable

singular

not gender specific

Plural form

layaways

Examples

The furniture store offers a layaway plan, allowing customers to reserve a sofa or bed and pay for it gradually over several months.

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Lexical Tree

layaway

lay

away

Nearby Words