Time; reasonable time; "seasonably"
Known as the Uniform Commercial Code
The act spans §§ 26-1-1-0.2 to 26-1-9.1-902 (630 sections).
Applied in 1 court decision — leading case McClure Oil Corp. v. Murray Equipment, Inc. (1987)
Most recently applied in McClure Oil Corp. v. Murray Equipment, Inc. (November 1987)
Formerly: Acts 1963, c.317, s.1-204
Sec. 204. (1) Whenever IC 26-1 requires any action to be taken within a reasonable time, any time which is not manifestly unreasonable may be fixed by agreement.
(2) What is a reasonable time for taking any action depends on the nature, purpose, and circumstances of such action.
(3) An action is taken "seasonably" when it is taken at or within the time agreed or, if no time is agreed, at or within a reasonable time.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.