Instalment

(redirected from instalments)
Also found in: Dictionary, Thesaurus, Financial, Encyclopedia.

INSTALMENT, contracts. A part of a debt due by contract, and agreed to be paid at a time different from that fixed for the, payment of the other part. For example, if I engage to pay you one thousand dollars, in two payments, one on the first clay of January, and the other on the first day of July, each of these payments or obligations to pay will be an instalment .
     2. In such case each instalment is a separate debt so far that it may be tendered at any time, or the first may be sued for although the other shall not be due. Dane's Ab. vol. iii. ch. 93, art. 3, s. 11, page 493, 4; 1 Esp. R. 129; Id. 226; 3 Salk. 6, 18: Esp. R. 235; 1 Maule & Selw. 706.
     3. A debtor who by failing to pay three instalments of rent due on a lease would forfeit his estate, may, in order to save it, tender one instalment to prevent the forfeiture, although there may be two due at the time, and he is not bound to tender both. 6 Toull. n. 688.

References in periodicals archive ?
The allottees have appealed to the premier to issue directives to reduce the instalment by bring ing it at par with the February 2011 schedule so that they could make payments easily.
The period between each instalment cannot exceed three months, and the director-general is authorised to alter the value of the instalments or period, if needed.
The new resolution annuls the Executive Council's Resolution No (40) of 2011 on instalments of traffic valuations in Dubai and any other resolution contradicts its articles.
1614 per share previously cancelled, represents the first instalment of the dividend announced on December 2, 2005.
The schedule has been revised to facilitate the allotees in making payment of instalments.
Contemporaneous with the closing of the initial public offering, the Fund entered into a credit facility, with a Canadian chartered bank pursuant to which the Fund will borrow an amount equal to the aggregate amount of the final instalments plus expenses of the offering.