Payment
/ˈpeɪ.mənt/
Definitions
- (n.) The act of giving money or its equivalent in exchange for goods or services or to fulfill an obligation.
The payment was made promptly upon receipt of the invoice.
- (n.) A sum of money paid or payable.
He received a payment of $1,000 for his consulting services.
Forms
- payments
Related terms
See also
Commentary
In legal drafting, specify whether payment includes interest, penalties, or other charges to avoid ambiguity.
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.