Indiana § 37-2-2-45.3 - "Sale of goods"
Full text of Indiana Indiana Code § 37-2-2-45.3 — "Sale of goods", with citation guidance and answers to common questions.
§ 37-2-2-45.3. "Sale of goods"
Sec. 45.3. "Sale of goods" includes any agreement in the form of a bailment or lease of goods if the bailee or lessee agrees to pay as compensation for use a sum substantially equivalent to or in excess of the aggregate value of the goods involved and it is agreed that the bailee or lessee will become, or for no other or a nominal consideration has the option to become, the owner of the goods upon full compliance with the bailee's or the lessee's obligations under the agreement.
[Pre-2026 Revision Citation: 24-4.5-2-105(4).]
As added by P.L.115-2026, SEC.97.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 37-2-2-45.3
What does Indiana Code § 37-2-2-45.3 cover?
Section 37-2-2-45.3 (""Sale of goods"") 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 § 37-2-2-45.3?
A common citation format is "Indiana Code § 37-2-2-45.3" (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 § 37-2-2-45.3 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.