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Question 21 of 40. An installment contract is best described as A contract under which: The buyer makes a series of equal, p
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Answer is option first - The buyer makes a series of equal, periodic payments to the seller.

Under an installment contract, the buyer has to make a series of equal, periodic payments to the seller and buyer also receives the item purchased at the entering in to the contract or making a first installment.

All other options does not correctly define an installment contract.

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