Instalment


Also found in: Dictionary, Thesaurus, Financial, Encyclopedia, Wikipedia.
Related to Instalment: Instalment Sale

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 ?
Through a pilot programme, participating issuers and merchants will be able to offer their customers an instalment payment experience at checkout using a Visa card they already have in their wallet, said a statement from the company.
WHEN goods you order are delivered in instalments it can lead to bother.
The second instalment under the scheme would be admissible after April 1, 2019.
The Board of Directors of Sanoma Corporation has in its meeting decided the record date and payment date of the second dividend instalment of EUR 0.15 per share.
Sanoma Oyj (HEL:SAA1V), a media and learning company, announced on Wednesday the decision by its board of directors on the record date and payment date of the second dividend instalment of EUR0.15 per share.
Payment facilities become very common recently, hence Jumia aims to allow its customer to purchase online unique and diverse products through instalment payment service.
The report said the CDA received the down payment and instalments until October 2008, after which the payment rate instalment schedule was revised to Rs29.3m, including the Karachi Inter-Bank Offer Rate (Kibor).
The bill provides for a minimum instalment depending on the amount owed.
However, after paying only the first instalment, and before the next instalment had become due, he sold the property through a legal agreement, signed on 15.10.2005, whereby the remaining instalments were to be paid by the new owner (purchaser).
Option 2--Pay l/12th of the preceding year's tax liability (first instalment base);
The instalment period cannot exceed a year, a period that begins starting from the date set by the government body.
Dubai: Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has issued a resolution allowing instalment of fines due to the Government of Dubai.