§ 26-1-2-719 — Contractual modification or limitation of remedy

(1) Subject to the provisions of subsections
(2) and (3) and of IC 26-1-2-718 on liquidation and limitation of
damages:
(a) the agreement may provide for remedies in addition to or in
substitution for those provided in IC 26-1-2 and may limit or alter
the measure of damages recoverable under IC 26-1-2, as by
limiting the buyer's remedies to return of the goods and repayment
of the price or to repair and replacement of nonconforming goods
or parts; and
(b) resort to a remedy as provided is optional unless the remedy
is expressly agreed to be exclusive, in which case it is the sole
remedy.
(2) Where circumstances cause an exclusive or limited remedy to
fail of its essential purpose, remedy may be had as provided in IC 26-1.
(3) Consequential damages may be limited or excluded unless the
limitation or exclusion is unconscionable. Limitation of consequential
damages for injury to the person in the case of consumer goods is
prima facie unconscionable, but limitation of damages where the loss
is commercial is not.
Formerly: Acts 1963, c.317, s.2-719. As amended by
P.L.152-1986, SEC.174.