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Simple English definitions for legal terms

retail installment contract

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A quick definition of retail installment contract:

A retail installment contract is an agreement between two or more parties that creates obligations that can be enforced by law. It can be a written document that sets forth the terms of the agreement, but the term "contract" can also refer to the legal relations resulting from the agreement. In simpler terms, it is a promise or set of promises that the law recognizes as a duty, and if broken, there will be consequences.

A more thorough explanation:

A retail installment contract is a type of contract that is used in the sale of goods or services. It is an agreement between two or more parties that creates obligations that are enforceable by law. The contract outlines the terms of the sale, including the price, payment schedule, and any other conditions that must be met.

For example, if you purchase a car from a dealership, you will likely sign a retail installment contract. This contract will outline the terms of the sale, including the price of the car, the interest rate on the loan, and the payment schedule. By signing the contract, you are agreeing to make payments on the car according to the terms outlined in the contract.

Retail installment contracts are important because they provide legal protection for both the buyer and the seller. They ensure that both parties understand the terms of the sale and are held accountable for meeting their obligations. Without a retail installment contract, disputes can arise over the terms of the sale, which can be costly and time-consuming to resolve.

retailer | retail installment contract and security agreement

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Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
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