- 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
- the state of an item thus set aside
See layaway in American Heritage Dictionary 4
- 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.
- An article reserved under such a plan.
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