lay-away n.

"to cause to lie or rest," Old English lecgan "to place on the ground (or other surface); place in an orderly fashion," also "put down" (often by striking), from Proto-Germanic *lagojanan (source also of Old Saxon leggian, Old Norse leggja, Old Frisian ledza, Middle Dutch legghan, Dutch leggen, Old High German lecken, German legen, Gothic lagjan "to lay, put, place"), from PIE root *legh- "to lie down, lay." This is the causative form of the ancient Germanic verb that became modern English lie (v.2).

Meaning "have sex with" first recorded 1934, in U.S. slang, probably from sense of "bring forth and deposit" (which was in Old English, as in lay an egg, lay a bet, etc.), perhaps reinforced by to lie with, a phrase frequently met in the Bible. To lay for (someone) "await a chance at revenge" is from late 15c.; lay low "stay inconspicuous" is from 1839; to lay (someone) low "defeat" (late 14c.) preserves the secondary Old English sense.

Middle English awei, from late Old English aweg, earlier on weg "on from this (that) place;" see a- (1) + way (n.).

The meaning "from one's own or accustomed place" is from c. 1300; that of "from one state or condition to another" is from mid-14c.; that of "from one's possession (give away, throw away) is from c. 1400. Colloquial use for "without delay" (fire away, also right away) is from the earlier sense of "onward in time" (16c.). The meaning "at such a distance" (a mile away) is by 1712. Intensive use (as in away back) is American English, attested by 1818. Of sporting events played at the other team's field or court, by 1893.