Dictionary Search: "Installment" - Pakistan Law Portal

Installment

n. A periodic partial payment of a debt.

disguised installment sale

Bankruptcy. A debtor's leasing ploy to try to keep property outside the bankruptcy estate, whereby a lease either presents the lessee-debtor with a bargain purchase option or transfers title to the lessee-debtor at the end of the lease term. ( When such a lease is discovered, the property is treated as part of the bankruptcy estate, meaning that to defeat competing creditors, the lessor must have perfected a security interest.

face-amount certificate of installment type

See face-amount certificate (1) under CERTIFICATE.

installment accounting method

See Ac COUNTING METHOD.

installment accounting method.

A method by which a taxpayer can spread the recognition of gains from a sale of property over the payment period by computing the gross-profit percentage from the sale and applying it to each payment.

installment contract

See CONTRACT.

installment credit

Consumer credit scheduled to be repaid in two or more payments, usu. at regular intervals. ( The seller ordinarily exacts finance charges.

installment debt

A debt that is to be repaid in a series of payments at regular times over a specified period.

installment land contract

See contract for deed.

installment loan

See LOAN.

installment note

See NOTE (1).

installment note.

A note payable at regular intervals. - Also termed serial note.

installment plan

See INSTALLMENT SALE.

installment sale

A conditional sale in which the buyer makes a down payment followed by periodic payments and the seller retains title or a security interest until all payments have been received. - Also termed installment plan; retail installment sale.

noninstallment credit

See CREDIT (4).

retail installment contract

A contract for the sale of goods under which the buyer makes periodic payments and the seller retains title to or a security interest in the goods. - Also termed retail installment contract and security agreement; conditional sales contract. Cf. chattel mortgage under MORTGAGE.

retail installment contract and security agreement

See retail installment contract under CONTRACT.

retail installment sale