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Terms Used In Iowa Code 554.1304

  • Contract: A legal written agreement that becomes binding when signed.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
554.1304 Obligation of good faith.
Every contract or duty within this chapter imposes an obligation of good faith in its
performance or enforcement.
[C66, 71, 73, 75, 77, 79, 81, §554.1203]
2007 Acts, ch 41, §51
CS2007, §554.1304