Indiana § 26-1-2-102 - Scope; transactions in goods; hybrid transactions; transactions creating security interest excluded; statutes regulating sales to certain buyers not impaired or repealed

§ 26-1-2-102. Scope; transactions in goods; hybrid transactions; transactions creating security interest excluded; statutes regulating sales to certain buyers not impaired or repealed

Sec. 102. (1) Unless the context otherwise requires, and except as provided in subsection (3), this chapter applies to transactions in goods and, in the case of a hybrid transaction, this chapter applies to the extent provided in subsection (2).

(2) In a hybrid transaction, the following apply:

(a) If the sale of goods aspects do not predominate, only the provisions of this chapter which relate primarily to the sales of goods aspects of the transaction apply, and the provisions that relate to the transaction as a whole do not apply.

(b) If the sale of goods aspects predominate, this chapter applies to the transaction but does not preclude the application in appropriate circumstances of other law to aspects of the transaction that do not relate to the sale of goods.

(3) This chapter does not:

(a) apply to a transaction that, even though in the form of an unconditional contract to sell or present sale, operates to create a security interest; or

(b) impair or repeal a statute regulating sales to consumers, farmers, or other specified classes of buyers.

Formerly: Acts 1963, c.317, s.2-102. As amended by P.L.152-1986, SEC.120; P.L.2-1991, SEC.86; P.L.199-2023, SEC.3.