earnest money

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Related to earnest money: option money, earnest money contract
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  • noun

Synonyms for earnest money

money given by a buyer to a seller to bind a contract


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References in periodicals archive ?
According to the provisions of the Civil Code, the earnest money cannot be used for securing a preliminary contract, likewise a contract that must be concluded in the obligatory notarial form.
It is worth mentioning that banks have selected only 10 cities for providing the earnest money.
The Company believes First City Realty's failure to make the first two earnest money deposits constitutes a default by First City Realty under the contract.
Pursuant to the purchase contract, 3D Systems made an initial earnest money deposit on December 18, 2006, in the amount of $301,440 and is obligated to make an additional earnest money deposit on January 2, 2007, in the amount of $703,360.
Earnest money is an effective and quite often used way to secure the performance of a contract.
In the event that the Purchaser defaults on its obligations to purchase the Property, Dearborn LLC's sole remedy is to receive the Earnest Money as liquidated damages.