§ 26-1-2.1-404 — Substituted performance

Indiana § 26-1-2.1-404

• Jurisdiction: Indiana
• Title 26: COMMERCIAL LAW
• Art. 1: UNIFORM COMMERCIAL CODE
• Ch. 2.1: Leases

Text

(1) If without fault of the lessee, the
lessor and the supplier, the agreed berthing, loading, or unloading
facilities fail or the agreed type of carrier becomes unavailable or the
agreed manner of delivery otherwise becomes commercially
impracticable, but a commercially reasonable substitute is available,
the substitute performance must be tendered and accepted.
(2) If the agreed means or manner of payment fails because of
domestic or foreign governmental regulation:
(a) the lessor may withhold or stop delivery or cause the supplier
to withhold or stop delivery unless the lessee provides a means or
manner of payment that is commercially a substantial equivalent;
and
(b) if delivery has already been taken, payment by the means or
in the manner provided by the regulation discharges the lessee's
obligation unless the regulation is discriminatory, oppressive, or
predatory.

Legislative History

As added by P.L.189-1991, SEC.3.