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layaway

[ley-uh-wey] /ˈleɪ əˌweɪ/
noun
2.
an article or item purchased through a layaway plan.
Origin
1880-1885
1880-85; noun use of verb phrase lay away
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Word Origin and History for lay-away

layaway

1961, as a system of payments for merchandise, from lay (v.) + away. Earlier in the same sense was Australian lay-by (1930).

Online Etymology Dictionary, © 2010 Douglas Harper
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