Sec. 725. (1) An action for breach of any contract for sale must be commenced within four (4) years after the cause of action has accrued. By the original agreement the parties may reduce the period of limitation to not less than one (1) year, but may not extend it. (2) A cause of action accrues when the breach occurs, regardless of the aggrieved party's lack of knowledge of the breach. A breach of warranty occurs when tender of delivery is made, except that where a warranty explicitly extends to future performance of the goods and discovery of the breach must await the time of such performance, the cause of action accrues when the breach is or should have been discovered. (3) Where an action commenced within the time limited by subsection (1) is so terminated as to leave available a remedy by another action for the same breach, such other action may be commenced after the expiration of the time limited and within six (6) months after the termination of the first action, unless the termination resulted from voluntary discontinuance or from dismissal for failure or neglect to prosecute. (4) This section does not alter the law on tolling of the statute of limitations nor does it apply to causes of action which have accrued before IC 26-1 becomes effective. Formerly: Acts 1963, c.317, s.2-725. As amended by P.L.152-1986, SEC.176. IC 26-1-2.1 Chapter 2.1. Leases 26-1-2.1-101 Short title 26-1-2.1-102 Scope; transactions creating a lease; hybrid transactions 26-1-2.1-103 Definitions and index of definitions 26-1-2.1-104 Leases subject to other statutes 26-1-2.1-105 Territorial application of article to goods covered by certificate of title 26-1-2.1-106 Limitation on power of parties to consumer lease to choose applicable law and judicial forum 26-1-2.1-107 Waiver or renunciation of claim or right after default 26-1-2.1-108 Unconscionability 26-1-2.1-109 Option to accelerate at will 26-1-2.1-201 Statute of frauds 26-1-2.1-202 Record intended as final expression of parties' agreement; parol or extrinsic evidence 26-1-2.1-203 Seals inoperative 26-1-2.1-204 Formation in general 26-1-2.1-205 Firm offers 26-1-2.1-206 Offer and acceptance in formation of lease contract 26-1-2.1-207 Repealed 26-1-2.1-208 Modification, rescission, and waiver 26-1-2.1-209 Lessee under finance lease as beneficiary of supply contract 26-1-2.1-210 Express warranties 26-1-2.1-211 Warranties against interference and against infringement; lessee's obligation against infringement 26-1-2.1-212 Implied warranty of merchantability 26-1-2.1-213 Implied warranty of fitness for particular purpose 26-1-2.1-214 Exclusion or modification of warranties 26-1-2.1-215 Cumulation and conflict of warranties express or implied 26-1-2.1-216 Third-party beneficiaries of express and implied warranties 26-1-2.1-217 Identification 26-1-2.1-218 Insurance and proceeds 26-1-2.1-219 Risk of loss 26-1-2.1-220 Effect of default on risk of loss 26-1-2.1-221 Casualty to identified goods 26-1-2.1-301 Enforceability of lease contract 26-1-2.1-302 Title to and possession of goods 26-1-2.1-303 "Creation of a security interest"; alienability of party's interest under lease contract or of lessor's residual interest in goods; delegation of performance; assignment of rights 26-1-2.1-304 Subsequent lease of goods by lessor 26-1-2.1-305 Sale or sublease of goods by lessee 26-1-2.1-306 Priority of certain liens arising by operation of law 26-1-2.1-307 Priority of liens related to lease contract 26-1-2.1-308 Special rights of creditors 26-1-2.1-309 Lessor's and lessee's rights when goods become fixtures 26-1-2.1-310 Lessor's and lessee's rights when goods become accessions 26-1-2.1-311 Subordination by agreement; persons entitled to priority 26-1-2.1-401 Insecurity; adequate assurance of performance 26-1-2.1-402 Anticipatory repudiation 26-1-2.1-403 Retraction of anticipatory repudiation 26-1-2.1-404 Substituted performance 26-1-2.1-405 Excused performance 26-1-2.1-406 Procedure on excused performance 26-1-2.1-407 Irrevocable promises; finance leases 26-1-2.1-501 Default; procedure 26-1-2.1-502 Notice after default 26-1-2.1-503 Modification or impairment of rights and remedies 26-1-2.1-504 Liquidation of damages 26-1-2.1-505 Cancellation and termination and effect of cancellation, termination, rescission, or fraud on rights and remedies 26-1-2.1-506 Statute of limitations 26-1-2.1-507 Proof of market rent; time and place 26-1-2.1-508 Lessee's remedies 26-1-2.1-509 Lessee's rights on improper delivery; rightful rejection 26-1-2.1-510 Installment lease contracts; rejection and default 26-1-2.1-511 Merchant lessee's duties as to rightfully rejected goods 26-1-2.1-512 Lessee's duties as to rightfully rejected goods 26-1-2.1-513 Cure by lessor of improper tender or delivery; replacement 26-1-2.1-514 Waiver of lessee's objections 26-1-2.1-515 Acceptance of goods 26-1-2.1-516 Effect of acceptance of goods; notice of default; burden of establishing 26-1-2.1-517 Revocation of acceptance of goods 26-1-2.1-518 Cover; substitute goods 26-1-2.1-519 Lessee's damages for nondelivery, repudiation, default, and breach of warranty in regard to accepted goods 26-1-2.1-520 Lessee's incidental and consequential damages 26-1-2.1-521 Lessee's right to specific performance or replevin 26-1-2.1-522 Lessee's right to goods on lessor's insolvency 26-1-2.1-523 Lessor's remedies 26-1-2.1-524 Lessor's right to identify goods to lease contract 26-1-2.1-525 Lessor's right to possession of goods 26-1-2.1-526 Lessor's stoppage of delivery 26-1-2.1-527 Lessor's rights to dispose of goods 26-1-2.1-528 Lessor's damages for nonacceptance or repudiation 26-1-2.1-529 Lessor's action for the rent 26-1-2.1-530 Lessor's incidental damages 26-1-2.1-531 Standing to sue third parties for injury to goods 26-1-2.1-532 Recovery by lessor for loss of or damage to residual interest
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