Definition of Advances

Moneys paid before or in advanco of the proper time of payment; money or commodities furnished on credit; a loan or gift or money advanced to be repaid conditionally. Vail v. Vail, 10 Barb. (N. Y.) 69. This word, when taken in its strict legal sense, does not mean glfts, (advancements,) and does mean a sort of loan; and, when taken in its ordinary and usual sense, it includes both loans and gifts,—loans more readily, perhaps, than gifts. Nolan v. Bolton, 25 Ga. 355. Payments advanced to the owner of property by a factor or broker on the price of goods which the latter has in his hands, or is to receive, for sale. Laflin, etc., Powder Co. v. Burkhardt, 97 U. S. 110, 24 L. Ed. 73