An installment contract is a contract that requires or authorizes goods to be delivered and accepted in separate lots.

Question

Quizplus · Accepted Answer

An installment contract is a type of contract that allows for the delivery and acceptance of goods in separate installments or lots. This type of contract is often used in situations where the goods are large or complex, such as when buying a car, where payment can be made in periodic installments.

An Installment Contract Is a Contract That Requires or Authorizes