Question

What contracts is the payment of all or part of the sale price deferred?

Answer 1

An installment sales contract is a contract where the payment of all or part of the sale price is deferred.

What is the sale price?

A sale price can be termed as the amount that is paid by the consumer or the buyer at the time of sale of that product or commodity, which usually includes the cost price and the profit margin.

An installment sales contract is a contract that means that the payment of purchase is made on an installment basis, which means that the payment will be made on a regular interval depending on the contract. The contract is typically set for a particular time and amount from the start.

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