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O que (quem) é installment contract - definição

Executory Contract; Executory contracts; Executory; Installment contract; Mersey Steel and Iron Company, Ltd. v. Naylor, Benzon & Co.

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. One significance is that failure to pay an installment when due is a breach in which damages can be assessed based on the portion which has not been paid, and is an excuse for the other party not to perform further. In many installment contracts, failure to make a payment gives the seller of an article the right to repossess (take it back). See also: anticipatory breach breach consideration contract failure of consideration

executory

a.

1.

Executive.

2.

(Law.) To be executed.

Executory contract

An executory contract is a contract that has not yet been fully performed or fully executed. It is a contract in which both sides still have important performance remaining.

https://en.wikipedia.org/wiki/Executory_contract

Wikipédia

Executory contract

An executory contract is a contract that has not yet been fully performed or fully executed. It is a contract in which both sides still have important performance remaining. However, an obligation to pay money, even if such obligation is material, does not usually make a contract executory. An obligation is material if a breach of contract would result from the failure to satisfy the obligation. A contract that has been fully performed by one party but not by the other party is not an executory contract. See, generally, Countryman, Vern, "Executory Contracts in Bankruptcy: Part I" (1973). Minnesota Law Review. 2459. https://scholarship.law.umn.edu/mlr/2459 and "Executory Contracts in Bankruptcy: Part II" (1974). Minnesota Law Review. 2460.https://scholarship.law.umn.edu/mlr/2460.

https://en.wikipedia.org/wiki/Executory contract