INSTALMENT (for earlier stallment or estallment, from Fr. estaler, to fix, arrange; the change is probably due to the influence of the verb " install "), the payment of a sum of money at stated intervals and in fixed portions instead of in a lump sum; hence the sums of money as they fall due at the periods agreed upon. For the system of purchase by deferred payments or instalments see HIRE-PURCHASE AGREEMENT.

Note - this article incorporates content from Encyclopaedia Britannica, Eleventh Edition, (1910-1911)

About Maximapedia | Privacy Policy | Cookie Policy | GDPR