Indiana Code 26-1-2-310. Open time for payment or running of credit; authority to ship under reservation
(a) payment is due at the time and place at which the buyer is to receive the goods, even though the place of shipment is the place of delivery; and
Terms Used In Indiana Code 26-1-2-310
- Contract: A legal written agreement that becomes binding when signed.
(c) if delivery is authorized and made by way of documents of title otherwise than by subdivision (b), then payment is due, regardless of where the goods are to be received:
(i) at the time and place at which the buyer is to receive delivery of the tangible documents; or
(ii) at the time the buyer is to receive delivery of the electronic documents and at the seller’s place of business or, if none, the seller’s residence; and
(d) where the seller is required or authorized to ship the goods on credit, the credit period runs from the time of shipment, but postdating the invoice or delaying its dispatch will correspondingly delay the starting of the credit period.
Formerly: Acts 1963, c.317, s.2-310. As amended by P.L.152-1986, SEC.133; P.L.143-2007, SEC.10.