Indiana § 26-1-7-203 - Liability for nonreceipt or misdescription
Full text of Indiana Indiana Code § 26-1-7-203 — Liability for nonreceipt or misdescription, with citation guidance and answers to common questions.
§ 26-1-7-203. Liability for nonreceipt or misdescription
Sec. 203. 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.
Formerly: Acts 1963, c.317, s.7-203. As amended by P.L.143-2007, SEC.32.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 26-1-7-203
What does Indiana Code § 26-1-7-203 cover?
Section 26-1-7-203 ("Liability for nonreceipt or misdescription") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 26-1-7-203?
A common citation format is "Indiana Code § 26-1-7-203" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 26-1-7-203 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.