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ANGEL SWORD CORPORATION 350 Jennifer Lane Driftwood, TX. 78619 Telephone/Fax (512) 8479679 LAYAWAY CONTRACT Angel Sword is happy to accommodate purchases through our layaway plan. We require a 20%.

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Example: You sell a $1,500 watch to a customer on a layaway basis in June, accepting a deposit of $300 plus a $50 layaway fee. The customer returns in July, pays the balance due, and receives the watch. You would report the sale as taking place in July, with a selling price of $1,550.

With a layaway plan, a consumer makes a deposit on the sale price of a product, followed by subsequent installment payments and, in return, the store agrees to hold the product in reserve. Upon final payment, the store hands the product over to the consumer.

The layaway process involves a retailer setting aside an item for you and letting you pay for it over a set period of time. When you put something on layaway, the clock starts. If you don't pay the full balance before the end of the layaway plan, you may lose the item and be charged a fee.

You can put a hold on an item for 90 days – inside the store and not online – and simply ask the store associate if you can put the item on layaway. You'll need to pay a minimum of 20% of the total purchase and will be given a written copy of the terms and conditions (which vary by store).

For example, let's assume Bob wants to buy a $50 food processor at a Big Store, but does not have enough money. Bob decides to use the Big Store's layaway plan, instead. He deposits $10 with Big Store and they agree to hold the item for 10 days.

Cancellation and Refund Policies Retailers use a number of different refund policies for layaway transactions. Some give full or partial cash refunds if layaways are not completed. Others give credit toward future purchases. State law may dictate what refund policy you must follow.

There is no federal law that specifically governs layaway transactions. However, you should be aware of two federal laws—the Federal Trade Commission Act and the Truth in Lending Act— that could affect your layaway plan. In addition, you should be aware that layaway practices could be affected by state or local laws.

Payments of equal amounts are stretched out over the remaining contract time. Expect a fee if you cancel. If for any reason you decide you don't want the items you've placed in layaway, you can cancel the order and get a refund of payments you've made -- except the nonrefundable service fee.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232