installment contract

installment contract

A contract requiring or authorizing the delivery of goods in separate lots, or payments in separate increments, to be separately accepted.

? Under the UCC, this type of agreement will be considered one contract even if it has a clause stating that each delivery is a separate contract. UCC ¡ì 2-612. [Cases: Sales 163, 192. C.J.S. Sales ¡ì 181.]


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Carl, Chinese legal translator, specializes in translating legal documents pertaining to complex business disputes.