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Article Title

Installment Contracts

Abstract

Section 301 of the Soldiers' and Sailors' Civil Relief Act of 1940, as amended in 1942, is designed to protect the serviceman who has purchased property on the installment plan against forfeitures. It provides that a vendor or seller (or his assignee) of real or personal property (including a lease or bailment with a view to purchase) may not terminate or rescind his contract or resume possession of the property because of nonpayment or for any other breach of contract except by an action brought in a court of competent jurisdiction. This section is applicable in all cases in which the vendor or seller or his assignor has received a payment or deposit from a serviceman or his assignor prior to his entry into military or naval service.

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