what is an installment contract?

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what is an installment contract?

2007-05-07 19:35:29 · 3 answers · asked by jlazar3000 1 in Politics & Government ➔ Law & Ethics

3 answers

Contract in which the obligation of one or more of the parties, such as an obligation to pay money, deliver goods, or render services, is divided into a series of successive performances.

2007-05-07 19:40:11 · answer #1 · answered by Anonymous · 0⤊ 0⤋

A contract by where you agree to pay for something by way of installements?

2007-05-07 19:39:56 · answer #2 · answered by jcurrieii 7 · 0⤊ 0⤋

It's where you pay small, equal amounts each month until the total amount you borrowed is repaid.
Actually, it could be daily, monthly, quarterly or annual payments... whatever is agreed to by both the lender and the borrower.

2007-05-07 19:42:55 · answer #3 · answered by love_2b_curious 6 · 0⤊ 0⤋