Arles (Noun)
Meaning
Money given by a buyer to a seller to bind a contract.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The buyer put down an earnest arles of 10% to secure the purchase of the house.
- The real estate agent required an arles of $1,000 to be paid by the buyer before showing them the property.
- The arles paid by the buyer was non-refundable if they backed out of the deal.
- The seller refused to sell the car without receiving an arles of $500 from the buyer.
- The contract stated that the buyer would forfeit their arles if they failed to complete the purchase within 30 days.