What is EARNEST?

The payment of a part of the price of goods sold, or the delivery of partof such goods, for the purpose of binding the contract. Ilowe v. Hayward, 108 Mass. 54, 11 Am. Rep. 300.A token or pledge passing between the parties, by way of evidence, or ratification of the sale. 2 Kent, Comm. 495, note.

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