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 […]
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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. [Cases: Sales 82(4).]
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. [Cases: Sales 82(4).] disguised installment sale. Bankruptcy. A debtor’s leasing ploy to try to keep
One of a series of periodic payments made under an installment plan. See INSTALLMENT SALE.
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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. [Cases: Internal Revenue 3104; Taxation 1078. C.J.S. Internal Revenue §§ 47–50; Taxation § 1759.]
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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. [Cases: Consumer Credit 4. C.J.S. Interest and Usury; Consumer Credit §§
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conditional sale contract 附条件买卖合同 根据该合同，尽管已向买受人交付货物，但出卖人仍保留货物所有权，直至合同中规定的条件完成。这种合同通常即为分期付款的零售合同〔retail installment contract〕，以此作为买受人付清货款的担保。
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A contract requiring or authorizing the delivery of goods in separate lots, or payments in separate increments, to be separately accepted. • Under the UCC, this type of agreement will be considered one contract even if it has a clause stating that each delivery is a separate contract. UCC § 2-612. [Cases: Sales 163, 192.
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A finance company that does not deal directly with consumers but instead purchases consumer installment paper arising from the sale of consumer durables “on time.” — Also termed acceptance company.
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lease-purchase agreement. A rent-to-own purchase plan under which the buyer takes possession of the goods with the first payment and takes ownership with the final payment; a lease of property (esp. equipment) by which ownership of the property is transferred to the lessee at the end of the lease term. • Such a lease is
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