Indiana Statutes
§ 26-1-2.1-221 — Casualty to identified goods
Indiana § 26-1-2.1-221
This text of Indiana § 26-1-2.1-221 (Casualty to identified goods) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Ind. Code § 26-1-2.1-221 (2026).
Text
If a lease contract requires goods identified when the lease contract is made, and the goods suffer casualty without fault of the lessee, the lessor or the supplier before delivery, or the goods suffer casualty before risk of loss passes to the lessee pursuant to the lease agreement or IC 26-1-2.1-219, then:
(a)if the loss is total, the lease contract is avoided; and
(b)if the loss is partial or the goods have so deteriorated as to no
longer conform to the lease contract, the lessee may nevertheless
demand inspection and at the lessee's option either treat the lease
contract as avoided or, except in a finance lease that is not a
consumer lease, accept the goods with due allowance from the
rent payable for the balance of the lease term for the deterioration
or the deficiency in quantity b
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Legislative History
As added by P.L.189-1991, SEC.3.
Nearby Sections
15
§ 26-1-1-0.3
Certain security interests considered perfected§ 26-1-1-0.5
Status of certain security interests; conditions; lapsing of perfection;
filing of financing statements§ 26-1-1-101
Short title; application§ 26-1-1-104
Construction against implicit repeal§ 26-1-1-105
Repealed§ 26-1-1-106
Remedies to be liberally administered§ 26-1-1-108
SeverabilityCite This Page — Counsel Stack
Bluebook (online)
Indiana § 26-1-2.1-221, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/26-1-2.1-221.