This lesson helps the user identify when a contract is an installment contract and understand the special rules that apply to installment contracts. The lesson is confined to installment contracts for the sale of goods, focusing on UCC sec. 2-612.
On completion of the lesson, the student will be able to:
1. Define "Installment Contract" as the term is used in the UCC.
2. Distinguish between nonconformity in an installment and breach of the whole contract.
3. Explain why there is an exception to the "perfect tender rule" for installment contracts.