§ 26-1-7-204 — Duty of care; contractual limitation of warehouse's liability

Indiana § 26-1-7-204

• Jurisdiction: Indiana
• Title 26: COMMERCIAL LAW
• Art. 1: UNIFORM COMMERCIAL CODE
• Ch. 7: Documents of Title

Text

(a) A warehouse is liable for damages for
loss of or injury to the goods caused by its failure to exercise care with
regard to the goods that a reasonably careful person would exercise
under similar circumstances. Unless otherwise agreed, the warehouse
is not liable for damages that could not have been avoided by the
exercise of that care.
(b) Damages may be limited by a term in the warehouse receipt or
storage agreement limiting the amount of liability in case of loss or
damage beyond which the warehouse is not liable. Such a limitation is
not effective with respect to the warehouse's liability for conversion to
its own use. On request of the bailor in a record at the time of signing
the storage agreement or within a reasonable time after receipt of the
warehouse receipt, the warehouse's liability may be increased on part
or all of the goods covered by the storage agreement or the warehouse
receipt. In this event, increased rates may be charged based on an
increased valuation of the goods.
(c) Reasonable provisions as to the time and manner of presenting
claims and commencing actions based on the bailment may be included
in the warehouse receipt or storage agreement.
Formerly: Acts 1963, c.317, s.7-204. As amended by
P.L.143-2007, SEC.33.