Michigan Retail Charge Account Agreement Initial Disclosure Statement
Description
How to fill out Retail Charge Account Agreement Initial Disclosure Statement?
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FAQ
A retail installment contract is one where the lender maintains title to the property, such as a car, and the borrower has use of the property and makes regular installment payments toward the purchase of the property. It is often used in the purchase of motor vehicles.
A retail installment sale is a transaction between you and a dealer to purchase a vehicle where, you agree to pay the dealer over time, paying both the value of the vehicle plus interest. A dealer can sell the retail installment contract to a lender or other party.
A retail installment sale is a transaction between you and a dealer to purchase a vehicle where, you agree to pay the dealer over time, paying both the value of the vehicle plus interest. A dealer can sell the retail installment contract to a lender or other party.
Act 224 of 1966 AN ACT to regulate retail installment sales transactions, agreements, charges and disclosures; and to provide for the enforcement thereof and penalties for violations.
Installment contract. n. an agreement in which payments of money, delivery of goods or performance of services are to be made in a series of payments, deliveries or performances, usually on specific dates or upon certain happenings.
A retail installment contract and security agreement is a specific type of contract used in retail sales, where the buyer agrees to make payments over time and provides security for the seller in case of default.