Payments
/ˈpeɪmənts/
Definitions
- (n.) The transfer of money or its equivalent to fulfill an obligation or debt.
The contract specifies the schedule for all payments due to the vendor.
Forms
- payment
Related terms
See also
Commentary
Payments must be clearly defined in agreements to avoid disputes over timing and amounts.
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.