Home Table of Contents

§ 2-612. “Installment contract”; breach

West's Annotated Code of MarylandCommercial Law

West's Annotated Code of Maryland
Commercial Law
Title 2. Sales (Refs & Annos)
Subtitle 6. Breach, Repudiation and Excuse (Refs & Annos)
MD Code, Commercial Law, § 2-612
§ 2-612. “Installment contract”; breach
(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 documents; but if the nonconformity does not fall within subsection (3) 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.

Credits

Added by Acts 1975, c. 49, § 2, eff. July 1, 1975.
Formerly Art. 95B, § 2-612.
MD Code, Commercial Law, § 2-612, MD COML § 2-612
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document