'Earnest money' definitions:

Definition of 'earnest money'

noun

Money given by a buyer to a seller to bind a contract [syn: earnest money, arles]

From: GCIDE

Earnest \Ear"nest\, n. [Prob. corrupted fr. F. arrhes, L. arra, arrha, arrhabo, Gr. 'arrabw`n, of Semitic origin, cf. Heb. [=e]r[=a]v[=o]n; or perh. fr. W. ernes, akin to Gael. earlas, perh. fr. L. arra. Cf. Arles, Earles penny.]
1. Something given, or a part paid beforehand, as a pledge; pledge; handsel; a token of what is to come. [1913 Webster]
Who hath also sealed us, and given the earnest of the Spirit in our hearts. --2 Cor. i. 22. [1913 Webster]
And from his coffers Received the golden earnest of our death. --Shak. [1913 Webster]
2. (Law) Something of value given by the buyer to the seller, by way of token or pledge, to bind the bargain and prove the sale. --Kent. Ayliffe. Benjamin. [1913 Webster]
Earnest money (Law), money paid as earnest, to bind a bargain or to ratify and prove a sale.
Syn: Earnest, Pledge.
Usage: These words are here compared as used in their figurative sense. Earnest is not so strong as pledge. An earnest, like first fruits, gives assurance, or at least a high probability, that more is coming of the same kind; a pledge, like money deposited, affords security and ground of reliance for the future. Washington gave earnest of his talent as commander by saving his troops after Braddock's defeat; his fortitude and that of his soldiers during the winter at Valley Forge might rightly be considered a pledge of their ultimate triumph. [1913 Webster]