Indiana Code 26-1-7-509. Receipt or bill; when adequate to comply with commercial contract
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Terms Used In Indiana Code 26-1-7-509
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Sec. 509. Whether a document of title is adequate to fulfill the obligations of a contract for sale, a contract for lease, or the conditions of a letter of credit is determined by IC 26-1-2, IC 26-1-2.1, or IC 26-1-5.1.
Formerly: Acts 1963, c.317, s.7-509. As amended by P.L.152-1986, SEC.261; P.L.183-1996, SEC.5; P.L.143-2007, SEC.60.