Rain Check


DEFINITION of 'Rain Check'

A promise or commitment by a seller to a buyer that an item currently out of stock can be purchased at a later date for today's sale price.


The term originated from baseball; spectators at games that were postponed because of rain would receive a check that could be used to attend a future game.

  1. Promissory Note

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  3. IOU

    An informal document that acknowledges a debt owed. IOU is an ...
  4. Collateral

    Property or other assets that a borrower offers a lender to secure ...
  5. Sale

    1) In general, a transaction between two parties where the buyer ...
  6. Loan Note

    An extended form of an IOU from one party to another that enables ...
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