Effect of seller's tender; delivery on condition
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 David R. Webb Co. v. Indiana Department of State Revenue (2005)
Most recently applied in David R. Webb Co. v. Indiana Department of State Revenue (April 2005)
Formerly: Acts 1963, c.317, s.2-507.
Sec. 507. (1) Tender of delivery is a condition to the buyer's duty to accept the goods and, unless otherwise agreed, to his duty to pay for them. Tender entitles the seller to acceptance of the goods and to payment according to the contract.
(2) Where payment is due and demanded on the delivery to the buyer of goods or documents of title, his right as against the seller to retain or dispose of them is conditional upon his making the payment due.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.