Iowa Code § 554.2612

“Installment contract” — breach
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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 isa separate contract” or its equivalent. 2. The buyer may reject any installment which isnonconforming ifthe nonconformity substantially impairs the valueof thatinstallment andcannot be cured or ifthe nonconformity isa defect in the required documents; but ifthe nonconformity does not fallwithin 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 the aggrieved party accepts a nonconforming installment without seasonably notifying of cancellation or if the aggrieved party brings an action with respect only to past installments or demands performance as to future installments.

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