Indiana Statutes
§ 26-1-7-203 — Liability for nonreceipt or misdescription
Indiana § 26-1-7-203
This text of Indiana § 26-1-7-203 (Liability for nonreceipt or misdescription) 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 § 26-1-7-203 (2026).
Text
A party to or purchaser for value in good faith of a document of title, other than a bill of lading, that relies upon the description of the goods in the document may recover from the issuer damages caused by the nonreceipt or misdescription of the goods, except to the extent that:
(1)the document conspicuously indicates that the issuer does not
know whether all or any part of the goods in fact were received or
conform to the description, such as a case in which the description
is in terms of marks or labels or kind, quantity, or condition, or
the receipt or description is qualified by "contents, condition, and
quality unknown", "said to contain", or words of similar import,
if the indication is true; or
(2)the party or purchaser otherwise has notice of the nonreceipt
or misdescription.
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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Repealed§ 26-1-1-106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
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Bluebook (online)
Indiana § 26-1-7-203, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/26-1-7-203.