The Answer to the Question Regarding Selling in Installments with the Presence of a Penalty Clause To: Aboudhia Taki
- Published in Q&A
- |
Question Is the selling contract legal when the selling price is fixed as a monthly payment with a written penalty clause of increasing the value of installment in case the buyer fails to pay on time or delays the payment? Answer The contract of selling can be set for an upfront payment and it can also be as a deferred payment i.e. installments. But it is not permissible to increase…
Read more...