Indiana Code 26-1-2-704. Seller’s right to identify goods to the contract notwithstanding breach or to salvage unfinished goods
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Sec. 704. (1) An aggrieved seller under IC 26-1-2-703 may:
(b) treat as the subject of resale goods which have demonstrably been intended for the particular contract even though those goods are unfinished.
(a) identify to the contract conforming goods not already identified if at the time he learned of the breach they are in his possession or control;
Terms Used In Indiana Code 26-1-2-704
- Contract: A legal written agreement that becomes binding when signed.
- Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
(2) Where the goods are unfinished, an aggrieved seller may in the exercise of reasonable commercial judgment for the purposes of avoiding loss and of effective realization either complete the manufacture and wholly identify the goods to the contract or cease manufacture and resell for scrap or salvage value or proceed in any other reasonable manner.
Formerly: Acts 1963, c.317, s.2-704. As amended by P.L.152-1986, SEC.163.