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Tennessee Installment Sale and Security Agreement

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Tennessee Installment Sale and Security Agreement Powered By Docstoc
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                             This Installment Sale and Security Agreement is between a buyer and seller of goods and
                             gives the buyer the option of paying in installments. It contains the material terms and
                             conditions of the agreement including the amount of the installment payments, the buyer's
                             duty to obtain insurance, and provisions relating to default. This agreement ensures that
                             the unpaid balance remains in full force and effect until fully paid. Under this agreement,
                             the seller retains a security interest in the goods until all installment payments and other
                             amounts due have been paid. This document should be utilized by sellers or buyers of
                             goods located in Tennessee when using an installment arrangement.
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                    INSTALLMENT SALE AND SECURITY AGREEMENT




This Agreement (“Agreement”) is made this ____ [Month] ____ [Date], 20____ between
______________________________ [Instruction: Insert the name of seller] located at
[Instruction: Insert the address of seller] (hereinafter referred to as the “Seller”) and
______________________________ [Instruction: Insert the name of buyer] located at
[Instruction: Insert the address of buyer] (hereinafter referred to as the “Buyer”), designated
below by their signatures and seals. Seller and Buyer may individually be referred as “Party” and
collectively as “Parties”.


1. Payment: Seller sells Buyer the goods as described in Exhibit A attached hereto upon the
   terms set forth below. Buyer, given the choice of paying the net price set forth below or the
   time price in any installments as set forth below, agrees to pay same to Seller or its assigns at
   its offices at the address shown above or at any other address which Seller may direct in
   writing delivered to Buyer. It is agreed that the agreements, whether one or more, existing
   between Seller and Buyer, having an unpaid balance of ________ ($___) [◊ Instruction:
   Insert the old balance amount E.g., Fifty dollars only ($ 50)], shall remain in full force
   and effect, that Seller's security interest in the goods sold under them shall remain in place
   and perfected, and that as to the contract evidenced by this Agreement, Buyer 
				
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posted:11/24/2011
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Description: This Installment Sale and Security Agreement is between a buyer and seller of goods and gives the buyer the option of paying in installments. It contains the material terms and conditions of the agreement including the amount of the installment payments, the buyer's duty to obtain insurance, and provisions relating to default. This agreement ensures that the unpaid balance remains in full force and effect until fully paid. Under this agreement, the seller retains a security interest in the goods until all installment payments and other amounts due have been paid. This document should be utilized by sellers or buyers of goods located in Tennessee when using an installment arrangement.
This document is also part of a package Essential Tennessee Legal Documents 144 Documents Included