Installment Contract

Learn about the definition for this legal term.

What is Installment Contract?

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. The failure to pay may bring a claim for the total balance due and may at the same justify the non-breaching party to stop further performance.

Further Reading

For more detailed information, see our related Contracts terms:

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