§ 4-2-612 — Installment contract - breach

Colorado § 4-2-612

• Jurisdiction: Colorado
• Title 04: Uniform
• Art.: Sales

Text

(1) An installment contract is
one which requires or authorizes the delivery of goods in separate lots to be
separately accepted, even though the contract contains a clause each delivery is a
separate contract or its equivalent.

(2) The buyer may reject any installment which is nonconforming if the
nonconformity substantially impairs the value of that installment and cannot be
cured or if the nonconformity is a defect in the required document; but if the
nonconformity does not fall within subsection (3) of this section and the seller gives
adequate assurance of its cure, the buyer must accept that installment.

(3) Whenever nonconformity or default with respect to one or more
installments substantially impairs the value of the whole contract there is a breach
of the whole, but the aggrieved party reinstates the contract if he accepts a
nonconforming installment without seasonably notifying of cancellation or if he
brings an action with respect only to past installments or demands performance as
to future installments.

Legislative History

Source: L. 65: p. 1332, � 1. C.R.S. 1963: � 155-2-612.