§ 26-1-2-310 — Open time for payment or running of credit; authority to ship under reservation

Indiana § 26-1-2-310

• Jurisdiction: Indiana
• Title 26: COMMERCIAL LAW
• Art. 1: UNIFORM COMMERCIAL CODE
• Ch. 2: Sales

Text

Unless otherwise agreed:
(a) payment is due at the time and place at which the buyer is to
receive the goods, even though the place of shipment is the place
of delivery; and
(b) if the seller is authorized to send the goods, he may ship them
under reservation and may tender the documents of title, but the
buyer may inspect the goods after their arrival before payment is
due, unless such inspection is inconsistent with the terms of the
contract (IC 26-1-2-513); and
(c) if delivery is authorized and made by way of documents of
title otherwise than by subdivision (b), then payment is due,
regardless of where the goods are to be received:
(i) at the time and place at which the buyer is to receive
delivery of the tangible documents; or
(ii) at the time the buyer is to receive delivery of the electronic
documents and at the seller's place of business or, if none, the
seller's residence; and
(d) where the seller is required or authorized to ship the goods on
credit, the credit period runs from the time of shipment, but
postdating the invoice or delaying its dispatch will
correspondingly delay the starting of the credit period.
Formerly: Acts 1963, c.317, s.2-310. As amended by
P.L.152-1986, SEC.133; P.L.143-2007, SEC.10.