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

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.

Lexical Tree

layaway

lay

away

Nearby Words

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