Installment Contract In Law Definition In Ohio
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An installment contract offers a buyer less protection than a traditional mortgage. This is true mainly because of forfeiture provisions, which give the buyer no right of redemption and allow a buyer to lose all interest in the property for even the slightest breach.
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 .
An installment contract is a type of contract where the work or payment is divided into smaller parts and completed over a period of time instead of all at once.
(B)(1) No surplus lines broker shall solicit, procure, place, or renew any insurance with an unauthorized insurer unless an agent or the surplus lines broker has complied with the due diligence requirements of this section and is unable to procure the requested insurance from an authorized insurer.
(A) No person shall operate a motor vehicle, trackless trolley, streetcar, agricultural tractor, or agricultural tractor that is towing, pulling, or otherwise drawing a unit of farm machinery on any street, highway, or property open to the public for vehicular traffic without being in reasonable control of the vehicle, ...
Section 5313.02 | Required provisions of land installment contracts. (A) Every land installment contract shall be executed in duplicate, and a copy of the contract shall be provided to the vendor and the vendee.
Section 3953.231 | Establishing and maintaining interest-bearing trust account for deposit of non-directed escrow funds.
(A) Every land installment contract shall be executed in duplicate, and a copy of the contract shall be provided to the vendor and the vendee.
(A) "Land installment contract" means an executory agreement which by its terms is not required to be fully performed by one or more of the parties to the agreement within one year of the date of the agreement and under which the vendor agrees to convey title in real property located in this state to the vendee and the ...
