Advertising

Take or pay contract

• A contract that obligates the purchaser to take any product that is offered to it (and pay the cash purchase price) or pay a specified amount if it refuses to take the product.

 
 Embedded terms in definition
 Cash
Contract
Purchase
Take
 
 Related Terms
 

<< Take a position Take out >>

Tips for Trying to Fix a Clogged or "Frozen" Home Equity Line: For years, homeowners have turned to home equity lines of credit (HELOCs) as a way to borrow against their home's value to pay for college tuition, home improvements, medical bills and other major expenses. (A home's equity is the market value minus what is owed on the mortgage. If you owe $100,000 on your mortgage but your home is worth $250,000, your equity is $150,000.) More...

If you once forfeit the confidence of your fellow citizens, you can never regain their respect and esteem. You may fool all of the people some of the time; you can even fool some of the people all the time; but you can't fool all of the people all of the time. - Abraham Lincoln

Advertising



Copyright 2009-2019 GVC. All rights reserved.