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Terms Used In Iowa Code 554.2701

  • 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.
554.2701 Remedies for breach of collateral contracts not impaired.
Remedies for breach of any obligation or promise collateral or ancillary to a contract for
sale are not impaired by the provisions of this Article. [C66, 71, 73, 75, 77, 79, 81, §554.2701]