Iowa Code 554.2508 – Cure by seller of improper tender or delivery — replacement
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Terms Used In Iowa Code 554.2508
- Contract: A legal written agreement that becomes binding when signed.
554.2508 Cure by seller of improper tender or delivery — replacement.
1. Where any tender or delivery by the seller is rejected because nonconforming and the time for performance has not yet expired, the seller may seasonably notify the buyer of the seller’s intention to cure and may then within the contract time make a conforming delivery.
2. Where the buyer rejects a nonconforming tender which the seller had reasonable grounds to believe would be acceptable with or without money allowance the seller may if the seller seasonably notifies the buyer have a further reasonable time to substitute a conforming tender.
[C66, 71, 73, 75, 77, 79, 81, §554.2508]
Referred to in §554.2323
1. Where any tender or delivery by the seller is rejected because nonconforming and the time for performance has not yet expired, the seller may seasonably notify the buyer of the seller’s intention to cure and may then within the contract time make a conforming delivery.
2. Where the buyer rejects a nonconforming tender which the seller had reasonable grounds to believe would be acceptable with or without money allowance the seller may if the seller seasonably notifies the buyer have a further reasonable time to substitute a conforming tender.
[C66, 71, 73, 75, 77, 79, 81, §554.2508]
Referred to in §554.2323