Earnests
/ˈɜrnɪsts/
Definitions
- (n.) Plural form of earnest; money or property given as a pledge or security for the performance of a contract or duty.
The buyer provided earnests to demonstrate commitment to the purchase agreement.
Related terms
See also
Commentary
Commonly used in contract law to denote a security measure assuring party performance.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.