185. Payment of principal debt by instalments.

The principal may be made repayable by instalments with a stipulation that if the instalments and interest are duly paid the repayment of the principal is not to be otherwise enforced1. Where the principal debt is agreed to be repayable by instalments, the parties' intention is assumed to be that the whole sum is to become immediately payable if default is made in regular payment of the instalments; and this is provided for either:


    (1)     by a covenant to pay the principal sum at a given date, with a proviso that if the sum is to be paid by

Popular documents