26-1-9.1-403. Agreement Not to Assert Defenses Against Assignee
Sec. 403. (a) As used in this section, “value” has the meaning provided in IC 26-1-3-303(a). (b) Except as otherwise provided in this section, an agreement between an account debtor and an assignor not to assert against an assignee any claim or defense that the account debtor may have against the assignor is enforceable by […]
26-1-9.1-404. Rights Acquired by Assignee; Claims and Defenses Against Assignee
Sec. 404. (a) Unless an account debtor has made an enforceable agreement not to assert defenses or claims, and subject to subsections (b) through (e), the rights of an assignee are subject to: (1) all terms of the agreement between the account debtor and assignor and any defense or claim in recoupment arising from the […]
26-1-9.1-405. Modification of Assigned Contract
Sec. 405. (a) A modification of or substitution for an assigned contract is effective against an assignee if made in good faith. The assignee acquires corresponding rights under the modified or substituted contract. The assignment may provide that the modification or substitution is a breach of contract by the assignor. This subsection is subject to […]
26-1-9.1-406. Discharge of Account Debtor; Notification of Assignment; Identification and Proof of Assignment; Restrictions on Assignment of Accounts, Chattel Paper, Payment Intangibles, and Promissory Notes Ineffective
Sec. 406. (a) Subject to subsections (b) through (i), an account debtor on an account, chattel paper, or a payment intangible may discharge its obligation by paying the assignor until, but not after, the account debtor receives a notification, authenticated by the assignor or the assignee, that the amount due or to become due has […]
26-1-9.1-333. Priority of Certain Liens Arising by Operation of Law
Sec. 333. (a) In this section, “possessory lien” means an interest, other than a security interest or an agricultural lien: (1) that secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person’s business; (2) that is created by statute […]
26-1-9.1-334. Priority of Security Interests in Fixtures and Crops
Sec. 334. (a) A security interest under IC 26-1-9.1 may be created in goods that are fixtures or may continue in goods that become fixtures. A security interest does not exist under IC 26-1-9.1 in ordinary building materials incorporated into an improvement on land. (b) IC 26-1-9.1 does not prevent creation of an encumbrance upon […]
26-1-9.1-319. Rights and Title of Consignee With Respect to Creditors and Purchasers
Sec. 319. (a) Except as otherwise provided in subsection (b), for purposes of determining the rights of creditors of, and purchasers for value of goods from, a consignee, while the goods are in the possession of the consignee, the consignee has rights and title to the goods identical to those the consignor had or had […]
26-1-9.1-335. Accessions
Sec. 335. (a) A security interest may be created in an accession and continues in collateral that becomes an accession. (b) If a security interest is perfected when the collateral becomes an accession, the security interest remains perfected in the collateral. (c) Except as otherwise provided in subsection (d), the other provisions of IC 26-1-9.1-301 […]
26-1-9.1-320. Buyer of Goods
Sec. 320. (a) Except as otherwise provided in this subsection and subsection (e), a buyer in ordinary course of business takes free of a security interest created by the buyer’s seller, even if the security interest is perfected and the buyer knows of its existence. The following apply whenever a person is buying farm products […]
26-1-9.1-336. Commingled Goods
Sec. 336. (a) As used in this section, “commingled goods” means goods that are physically united with other goods in such a manner that their identity is lost in a product or mass. (b) A security interest does not exist in commingled goods as such. However, a security interest may attach to a product or […]