Discount Point - Law Dictionary Search Results
Home Dictionary Name: discount pointdiscount point
discount point normally paid at closing and generally calculated to be equivalent to 1% of the total loan amount, discount points are paid to reduce the interest rate on a loan. In an ARM with an initial rate discount, the lender gives up a number of percentage points in interest to give you a lower rate and lower payments for part of the mortgage term (usually for one year or less). After the discount period, the ARM rate will probably go up depending on the index rate. Source: U.S. Department of Housing and Urban Development ...
discount
discount : a reduction made from the gross amount or value of something: as a : a reduction made from a regular or list price or a proportionate deduction from a debt account usually made for prompt payment or for payment in cash b : a reduction made for interest in advancing money upon or purchasing a note not yet due c : a reduction in the price of a bond see also discount bond at bond d : the sale of securities that are issued below and redeemed at face value compare premium [dis-kant, dis-kant] vt 1 a : to make a deduction from usually for cash or prompt payment b : to sell or offer at a lowered price 2 : to lend money on after deducting a discount [banks negotiable instruments] 3 : to take into account (a future event or prospect) in making present calculations vi : to give or make discounts [dis-kant] adj 1 a : selling goods or services at a discount [a broker] b : offered or sold at a discount [ securities] 2 : reflecting a discount [the price] ...
Trade discount/year ending discount
Trade discount/year ending discount, a prompt payment discount is a 'trade discount' given to the dealers by the company but the 'year ending discount' is not a trade discount, Asst. Collector of Central Excise v. Madras Rubber Factory Ltd., (1986) Supp SCC 751: (1987) 1 SCR 846....
Cash discount
Cash discount, cash discount cannot be confused with trade discount. The two concepts are wholly distinct and separate. Cash discount is allowed when the purchaser makes payment promptly or within the period of credit allowed. It is a discount granted in consideration of expeditious payment, Dy. C.S.T. (Law) Board of Revenue v. Advani Coorlikon (P.) Ltd., (1980) 1 SCC 360: AIR 1980 SC 609 (610): (1980) 1 SCR 931. [Central Sales Tax Act (74 of 1956), s. 2h...
discountable
discountable 1 : set apart for discounting [within the period] 2 : subject to being discounted [a note] ...
Trade discount
Trade discount, a 'trade discount' is a deduction from the catalogue price of goods allowed by wholesalers to retailers engaged in the trade, Dy. C.S.T. (Law), Board of Revenue (Taxes) v. Advani Coorlikon (P) Ltd., AIR 1980 SC 609 (610): (1980) 1 SCC 360: (1980) 1 SCR 931. [Central Sales Tax Act, 1956, s. 2(h)]Trade discount, is a percentage deduction from the regular list or catalogue price or goods, A.K. Roy v. Voltas Limited, 1973 SCC Tax 261...
closing costs
closing costs fees for final property transfer not included in the price of the property. Typical closing costs include charges for the mortgage loan such as origination fees, discount points, appraisal fee, survey, title insurance, legal fees, real estate professional fees, prepayment of taxes and insurance, and real estate transfer taxes. A common estimate of a Buyer's closing costs is 2 to 4 percent of the purchase price of the home. A common estimate for Seller's closing costs is 3 to 9 percent. Source: U.S. Department of Housing and Urban Development ...
bank discount
bank discount : the interest that is discounted in advance on a note and computed on the face value of the note ...
Discountable
Capable of being or suitable to be discounted as certain forms are necessary to render notes discountable at a bank...
Discounter
One who discounts a discount broker...
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