Non-finance Usage
The term may apply more generally to the purchase by one party of all of the rights of another party with respect to an ongoing transaction between the two. For example:
- An employer may "buy out" an employee's contract by making a single prepayment, so as to have no ongoing obligation to employ the person;
- A landlord may buy out the remainder of a tenant's lease, effectively paying them to vacate.
Read more about this topic: Buyout
Famous quotes containing the word usage:
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—George Gordon Noel Byron (1788–1824)