If a contract says 52 payments, since there are 52 weeks in a year does that automatically mean it’s a weekly payment?

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If a contract says 52 payments, since there are 52 weeks in a year does that automatically mean it’s a weekly payment?

I have a rental contract for wheels which states I have to make 52 payments of 69.70. The contract specifies those payments are Daily, Weekly, Bi-Weekly, or Monthly payment. Since 52 weeks are in the year, does that mean I have to pay every week?

Asked on May 1, 2012 under Bankruptcy Law, Kansas

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

While what  you write is a reasonable and logical interpretation, it does not necessarily have to be the case. You need to reference the length of the contract as well. If the contract is for a one-year rental, then it would almost certainly be a weekly payment; but if it were a 6 month rental, you'd be making 2 payments per week, or if a two-year rent, you'd be paying twice a month, etc. A contract  must be interpreted in light of all its terms, conditions, entire duration, etc.--you can't look at one isolated provision to understand it.


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