Indiana Code 26-1-4-103. Variation by agreement; measure of damages; action constituting ordinary care
(b) Federal reserve regulations and operating circulars, clearing-house rules, and the like have the effect of agreements under subsection (a), whether or not specifically assented to by all parties interested in items handled.
Terms Used In Indiana Code 26-1-4-103
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
(d) The specification or approval of certain procedures by IC 26-1-4 is not disapproval of other procedures that may be reasonable under the circumstances.
(e) The measure of damages for failure to exercise ordinary care in handling an item is the amount of the item reduced by an amount that could not have been realized by the exercise of ordinary care. If there is also bad faith it includes any other damages the party suffered as a proximate consequence.
Formerly: Acts 1963, c.317, s.4-103. As amended by P.L.152-1986, SEC.208; P.L.222-1993, SEC.8.