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. [Cases: Consumer Credit 4. C.J.S. Interest and Usury; Consumer Credit §§ 280, 284–293.]

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词条贡献者

双语律师Roger，毕业于一所培养最顶级翻译人才的语言学院，擅长翻译各类与商业秘密咨询与诉讼相关的法律文件。