from The American Heritage® Dictionary of the English Language, 4th Edition
- n. A payment plan in which a buyer reserves an article of merchandise by placing a deposit with the retailer until the balance is paid in full: bought a suit on layaway.
- n. An article reserved under such a plan.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. Things which have had a deposit placed on them and which the owner (generally a store) has agreed to hold for the customer and accept full payment at a later time.
- n. The system of accepting a deposit and holding for a customer to complete purchase.
- v. To place items on hold with a deposit at a merchant's.
Sorry, no etymologies found.