layaway

(ə wā′)

noun

  1. a method of buying in which a deposit is made on something that is then set aside for delivery only after it is paid for in full, as by monthly payments
  2. the state of an item thus set aside
    chiefly in in layaway

See layaway in American Heritage Dictionary 4

noun
  1. A payment plan in which a buyer reserves an article of merchandise by placing a deposit with the retailer until the balance is paid in full: bought a suit on layaway.
  2. An article reserved under such a plan.

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