Definition of layaway noun from the Oxford Advanced American Dictionary

 

layaway

 noun
noun
NAmE//ˈleɪəˌweɪ//
 
[uncountable]
 
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a system of buying goods in a store, where the customer pays a small amount of the price for an article and the store keeps the goods until the full price has been paid I'll put it on layaway.
See the Oxford Advanced Learner's Dictionary entry: layaway