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Home » Law Dictionary » R » RETAIL INSTALLMENT CONTRACT

RETAIL INSTALLMENT CONTRACT

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

A specific contract in the retail industry where a buyer of goods agrees to make installment payments for the items along with finance charges or other provisions which make the end price of the purchase more than if the purchase had been made outright at the time of sale. The installments represent the interest or cost of the extension of credit to the buyer.

Related Legal Terms & Definitions
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