Legal Definition and Related Resources of Payment

The transfer of money from one person to another with the assent of both parties . A transfer made without such assent will not constitute payment. The term also denotes the delivery to and the acceptance by a creditor of any other valuable thing in reduction or extinguishment of a debt or other obligation .

The fulfillment of a promise, or the performance of an agreement. The discharge in money of a sum due. In its most general sense, the rendition by the person under an obligation (68 Cal. 41) to the person to whom the same is due, or one lawfully authorized to represent him (6 How. Pr. [N. Y.] 161), of the exact act or thing required by such obligation (23 La. Ann. 84; 3 Duer [N. Y.] 441; 1 Gush. [Mass J 76), with the assent of both parties that the same is rendered and received in satisfaction of such obligation, and not for another purpose (50 Mich. 112; 6 Heisk. [Tenn.] 131). In a more restricted sense, payment is the rendition of a sum of money due. As so used, payment in cash is implied, and the giving of a note or check is not payment. 26 Conn. 487; 70 Iowa, 406; 42 N. Y. 638.

(Act of paying), noun

• acquittal
• acquittance
• amortization
• amortizement
• clearance
• compensation
• defrayal
• defrayment
• disbursement
• discharge of a debt
• expenditure
• liquidation
• outlay
• quittance
• receipt in full
• reckoning
• recompense
• reimbursement
• remittance
• restitution
• return
• satisfaction
• settlement
• spending
• subsidy

(Remittance), noun

• allotment
• allowance
• amount
• charge
• compensation
• consideration
• earnings
• emolument
• expenditure
• expense
• fee
• gratuity
• guerdon
• honorarium
• indemnification
• indemnity
• money
• pay
• premium
• quittance
• recompense
• reimbursement
• remittance
• remuneration
• reparation
• restitution
• salary
• solatium
• stipend
• tribute
• wageforeign phrases: In satisfactionibus non permittitur amplius fieri quam semelfactum est
• In settlements
• more must not be received than was received once for all
• Reprobatapecunia liberat solventem
• Money refused releases the debtor
• Quicquid solvitur
• solvitur secundum modum solventis; quicquid recipitur
• recipitur secundum modum recipientis
• Whatever money is paid
• is paid according to the direction of the payor
• whatever money is received
• is received according to that of the recipient
• Qui ignorat quantum solvere debeat
• non potest improbus videre
• He who does not know how much he ought to pay
• cannot seem dishonest
• Jusnonpatiturut idem bis solvatur
• Law does not suffer the same thing to be twice paid
• Bona fides non patitur ut bis idem exigatur
• Good faith does not allow us to demand the payment of the same thing twice

Browse or run a search for Payment in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Payment in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Payment in Historical Law in the Encyclopedia of Law.

Search for legal acronyms and/or abbreviations containing Payment in the Legal Abbreviations and Acronyms Dictionary.

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Mentioned in these terms

Acceleration Clause, Accord And Satisfaction, Administration Of Estates, Advance, Advancement, Allowance, Annuity, Arrangement, Assets, Assignment For The Benefit Of Creditors, , Balloon Mortgage, Bank Check, Bank Paper, Bankable Paper, Bankrupt, Bearer, Bill Of Sale, Boarder, C.o.d., , , Cash Discount, Ceapgild, Certified Check, Charge, Chattel Mortgage, Check, Claim, Clog On Equity Of Redemption, Closed Transaction, Cohabit, Collateral Source Rule, Collection Agency, Commutation, Compensate, Compensation, Condemn, Condemnation, Conditional Sale, Contract, Cornage, Coupons, Credit, Creditor, Discount, Draft, , , Equitable Execution, Equity Of Redemption, Estate, Expenditure, Facility Of Payment Clause, Foreclosure, Frumgyld, , Grace Period, Gratuitous, Guarantee, Garranty, Guaranty, Imperfect Mortgage, Instalment, Insurance, Interest, Involuntary Payment, Legacy, , , Life Annuity, Liquidated Damages, Local Assessment, Maturity, Mechanic’s Lien, Money, Money Order, Mortgage, , On Account, On Arrival, On Call, Overdraft, Preference, Preference Share, Premium, Present, Primage, Protest, Public, Re-entry, Proviso For, Remit, Remuneration, Repossession, Residue, Retainer, Revenue, Revival, Right, Satisfaction, Scalam, Scrip, Scrivener’s Rule, Secure, Security, Security Interest, Settlement, Severance Pay, Sinking Fund, Special Assessment, Stale, Subrogation, Subscription, Tally Trade, , Taxpayer, Tender, Tithes, Tollage, Trade Acceptance.

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This definition of Payment is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.

Vocabularies (Semantic Web Information)

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Payment

Payment

Payment

Hierarchical Display of Payment

Business And Competition > Accounting > Management accounting
Finance > Free movement of capital > Financial market > Financial transaction

Meaning of Payment

Overview and more information about Payment

For a more comprehensive understanding of Payment, see in the general part of the online platform.[rtbs name=”xxx-xxx”]

Resources

Translation of Payment

• Spanish: Pago
• French: Paiement
• German: Zahlung
• Italian: Pagamento
• Portuguese: Pagamento
• Polish: P&lstrok;atno&sacute;&cacute;

Thesaurus of Payment

Business And Competition > Accounting > Management accounting > Payment
Finance > Free movement of capital > Financial market > Financial transaction > Payment

See also

• Financial transaction

• Advance payment
• Deadline for payment