payment

views updated May 18 2018

pay·ment / ˈpāmənt/ • n. 1. the action or process of paying someone or something, or of being paid: ask for a discount for payment by cash | three interest-free monthly payments. 2. an amount paid or payable: an interim compensation payment of $2500. ∎ fig. something given as a reward or in recompense for something done: a suit with a velvet collar that I got as payment for being in the show.

Payment

views updated Jun 11 2018

PAYMENT

The fulfillment of a promise; the performance of an agreement. A delivery of money, or its equivalent in either specific property or services, by a debtor to a creditor.

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