Installment Contract In Law Definition In Georgia
Description
Form popularity
FAQ
If the IRS approves an installment agreement, it will generally keep any tax refunds and apply them to your debt. If the IRS agrees to an installment agreement, it may still file a Notice of Federal Tax Lien. For more information, see Publication 594, The IRS Collection Process.
An instalment sale agreement between you and a credit provider allows you to buy a vehicle or asset using the principal debt, which you repay by means of regular instalments over an agreed period, with fees and interest.
Under Georgia law, for a contract to be valid, there must be an offer, acceptance, consideration, and mutual assent. See O.C.G.A. § 13-3-1.
An installment contract is a single contract that is completed by a series of performances–such as payments, performances of a service, or delivery of goods–rather than being performed all at one time. Installment contracts can provide that installments are to be performed by either one or both parties.
Computer Service Contracts: Contracts for computer or technology services, such as software subscriptions, often involve installment payments being made over a set period of time; Agricultural Sales Contracts: In these contracts, the goods are subject to seasonal cycles, such as produce or agricultural goods.
(A) An "installment contract" is one which requires or authorizes the delivery of goods in separate lots to be separately accepted, even though the contract contains a clause "each delivery is a separate contract" or its equivalent.
An installment contract is a single contract that is completed by a series of performances –such as payments, performances of a service, or delivery of goods–rather than being performed all at one time. Installment contracts can provide that installments are to be performed by either one or both parties .
Under Georgia law, for a contract to be valid, there must be an offer, acceptance, consideration, and mutual assent. See O.C.G.A. § 13-3-1.
