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installment contract |
Also found in: Legal | 0.02 sec. |
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installment contract A contract providing for payment of the purchase price to the seller over time.Installment contracts are given favorable treatment by the IRS (www.irs.gov),which allows the seller to declare gain only as the seller receives principal payments each year,rather than requiring the seller to immediately take into income the entire gross amount of the purchase price.Interest is counted as income in the year paid. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Second, a significant percentage of the transactions in the late '70s were installment contract sales financed by sellers. Otherwise, "they should have signed a purchase agreement or installment contract which would list prices for the [options in question]," says Clarence Ditlow, executive director of the Center for Auto Safety (www. Unlike the compensation costs, the overhead expenses did not originate in the process of ACC's acquisition of installment contracts and generally had no meaningful relationship to the number of credit applications analyzed. |
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