Breach of One Installment of an Installment Contract Never Gives

question 37

True/False

Breach of one installment of an installment contract never gives rise to breach under the whole contract.

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Definitions:

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated for reporting and taxation purposes.

Cost of Goods Sold

Costs directly related to creating products that a company offers for sale.

Net Income

The amount of earnings left over after all expenses have been deducted from revenue, indicating the financial profitability of a business.