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Lcchang Posted 12 years ago
Vocabulary

credit

... The purchase of insurance is voluntary and not required for credit. $_______ is available at a cost of $ ____________ for the term of credit...

I would like to ask if "not required for credit" means " not required for a credit check".

And, what does "the term of credit" means here? 

Thanks for your help.
  

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6 Answers
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You have to post more context.
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Actually it's a passage from a TOEIC test.

Retail Installment Contract And Security Agreement
The undersigned (herein called Purchaser) purchases from Stein Brothers, Inc. (Seller) and grants to Dot Parker a security interest in, subject to the terms and conditions hereof, the following described property.

Quantity 1
Description Clothes Dryer
Amount $ 325
Trade-in
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The seller is offering the buyer the option to purchase the dryer on a time-payment (installment) plan. (That is, on credit, for example,12 equal monthly payments.)
The purchase of insurance is not required for this payment plan.
The term of credit is the length of time that the customer will be paying for the item (eg 12 months)
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How stupid I am!
How could have forgotten that this is something about an installment plan?
Thank you so much.
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LcchangHow stupid I am!
Not in the least. These sort of legal writings are very obtuse and obscure. I think they obfuscate intentionally.
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AlpheccaStarsthey obfuscate intentionally
... whereas they should be eschewing obfuscation. Emotion: smile
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