Practical corporate advice from Supreme Court practitioners. Always consult legal counsel before signing founder equity schedules, RJSC filings, or commercial agreements.
down paymentadvance payment While both down payment and advance payment involve upfront money, they serve different purposes in rental agreements. A typically refers to the initial amount paid when purchasing property, whereas in renting is a security deposit covering unpaid rent or damage. Tenants should distinguish between these terms to avoid confusion in lease agreements. Clear contractual terms must specify whether an upfront payment is an advance rent, security deposit, or down payment for purchase. This clarity prevents legal disputes regarding refund and deductions.
