installment contract

Also found in: Financial.

installment contract

n. an agreement in which payments of money, delivery of goods or performance of services are to be made in a series of payments, deliveries or performances, usually on specific dates or upon certain happenings. One significance is that failure to pay an installment when due is a breach in which damages can be assessed based on the portion which has not been paid, and is an excuse for the other party not to perform further. In many installment contracts, failure to make a payment gives the seller of an article the right to repossess (take it back). (See: contract, consideration, breach, anticipatory breach, failure of consideration)

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I entered into an installment contract about three years ago to purchase the single-family home my wife and I are now living in.

Is roommate agreement binding?

" [T]he side agreement was an installment contract without an automatic acceleration provision.

Contract - Parol evidence rule - Mutual mistake

Contract buyers "are typically ill-prepared to unravel the textual ambiguities and considerable risks of the installment contract and to undertake needed protective steps." (117) Because properties sold in land contracts are often in severe states of disrepair, policymakers could argue--like they did when initially supporting the implied warranty of habitability--that extending the implied warranty of habitability to land contracts is needed to prevent dilapidated housing from becoming a public nuisance.

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AT&T is selling the (https://www.att.com/cellphones/iphone/apple-iphone-8.html?source=IC2Y0H0000000000L&wtExtndSource=iphone8#sku=sku8510261) 64GB iPhone 8 at $23.34 a month with a 30-month installment contract, while the 256GB is going at $28.34 a month.

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Facts: In 2006, Marvin DeBough sold his principal residence in Minnesota under an installment contract, resulting in a gain of $657,796.

Gain recognized from repossession of principal residence: the repossession of a taxpayer's former principal residence more than one year after its sale triggered the recognition of previously excluded gain

New Retail Installment Contract, Shared Connect Plan, $25 Activation Fee, and credit approval required.

U.S. CELLULAR GUARANTEES TO BEAT VERIZON/AT&T PLANS

Acceleration transforms a loan from a long-term installment contract with a monthly payment plan to a loan whose entire remaining principal balance is immediately due.

Deceleration: restarting the expired statute of limitations in mortgage foreclosures

Plaintiff alleges action on a retail installment contract. Suit seeks $11,263.

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Because the sale is between related persons, the children should be instructed not to sell the building until at least two years have passed from the start of the installment contract. If they sell the property prematurely, their parents will be hit with a crippling tax bill and will not receive installments sufficient to cover the liability.

Case study on federal income tax

If consideration from the operator takes the form of an installment contract, the contract should be reported as an asset at its discounted present value.

Final GASB guidance on service concession arrangements: GASB Statement No. 60, which is scheduled to take effect no later than for the fiscal year that ends December 31, 2012, provides guidance on the appropriate accounting and financial reporting for public-private partnerships

According to a retail installment contract from Toyota Financial Services, through which the car was financed, the cash price for the car was $21,694.50.

Teen caught in car-buying nightmare

You may be familiar with a "contract for deed" or an "installment contract" in a real estate sale.