Advance - Definition - Law Dictionary Home Dictionary Definition advance

Definition :

Advance [fr. avancer, Fr., to push forwards, fr. avant, Fr., avante, It., ab ante, Lat.], money paid before it is due 'a loan; increase.

Advance means an advance, whether in cash or in kind, or party in cash or partly in kind, made by one person (hereinafter referred to as the creditor) to another person (hereinafter referred to as the debtor). [Bonded Labour System (Abolition) Act, 1976, (19 of 1976), s. 2(a)]