§ 25A-3. "Payable in installments" defined.
§25A‑3. "Payable in installments" defined.
A debt is "payable ininstallments" when the buyer is required or permitted by agreement to makepayment in more than four installments, excluding a down payment, and whetheror not a finance charge is imposed by the seller. (1971, c. 796, s. 1.)