Question
I bought merchandise payable in monthly instalments. I defaulted on one payment. Now the creditor is demanding full payment – payment of the entire outstanding amount which is not yet due. Is this permissible? This condition was stipulated at the time of the transaction.
Answer
Yes, the condition is permissible. The creditor may demand full payment of the outstanding amount.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 28 No 08
- PDF page
- 11
Appears under GIRLS AND KUFR EDUCATION (approximate).