Meaning of “lay-by” in the English Dictionary

"lay-by" in British English

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lay-bynoun

uk /ˈleɪ.baɪ/ us /ˈleɪ.baɪ/

lay-by noun (PAYMENT)

[ U ] Australian English a system of paying for goods in small amounts and receiving the goods after the full amount has been paid, or goods bought in this way

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(Definition of “lay-by” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)