Installments
/ɪnˈstɔːlmənts/
Definitions
- (n.) Partial payments made over a specified period to fulfill a financial obligation.
The buyer agreed to pay the purchase price in four monthly installments.
Forms
- installment
Related terms
See also
Commentary
In legal contexts, defining the schedule and amount of installments clearly in contracts avoids disputes regarding payment obligations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.