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Jon contracts with Kino to buy a certain number of sheep for Kino's Animal Farm. Jon makes a deal with Lila for the sheep, but neither Jon nor Kino pays the price. Lila sues Jon for breach. Jon's right to hold Kino liable for any damages is the right to
Lump Sum
A single payment made at a particular time, as opposed to a series of periodic payments.
Lump Sum Payment
A single, one-time payment made for a purchase or to settle a debt, as opposed to installments.
Annuity Due
A type of annuity in which payments are made at the beginning of each period, rather than at the end.
Present Value
The present worth of a sum of money or a series of cash flows expected in the future, assuming a certain rate of return.
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