Indiana Code 24-13-1-5. “Consideration”
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Terms Used In Indiana Code 24-13-1-5
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
Sec. 5. “Consideration” means the payment of cash or the purchase of goods, services, or intangible property. The term does not include the purchase of goods or services furnished at cost to be used in making sales and not for resale, or time and effort spent in pursuit of sales or recruiting activities.
As added by P.L.105-2017, SEC.3.