Connection lost
Server error
A good lawyer knows the law; a great lawyer knows the judge.
✨ Enjoy an ad-free experience with LSD+
Legal Definitions - periodic payment
A good lawyer knows the law; a great lawyer knows the judge.
✨ Enjoy an ad-free experience with LSD+
Definition of periodic payment
A periodic payment is a payment that is made over a period of time instead of a one-time payment for the full amount. It is one of a series of payments made over time. This is different from a lump-sum payment, which is a payment of a large amount all at once.
Examples of periodic payments include:
- Monthly mortgage payments
- Car loan payments
- Installment payments for a purchase
These examples illustrate the definition of periodic payment because they are payments that are made over a period of time, usually in equal amounts. For example, a monthly mortgage payment is a periodic payment because it is made every month for a set period of time until the loan is paid off.
A lawyer without books would be like a workman without tools.
✨ Enjoy an ad-free experience with LSD+
Simple Definition
A periodic payment is when someone pays a little bit of money over time instead of paying all at once. For example, instead of paying for a toy with one big payment, you might pay a little bit of money each week until you have paid for the whole toy. This is different from a lump-sum payment, which is when you pay all the money at once.
If we desire respect for the law, we must first make the law respectable.
✨ Enjoy an ad-free experience with LSD+