§ 554.13501 — Default — procedure

Iowa § 554.13501

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 554: UNIFORM COMMERCIAL CODE

Text

1. Whether the lessor or the lessee is in default under a lease contract is determined by
the lease agreement and this Article.
2. If the lessor or the lessee is in default under the lease contract, the party seeking
enforcement has rights and remedies as provided in this Article and, except as limited by
this Article, as provided in the lease agreement.
3. If the lessor or the lessee is in default under the lease contract, the party seeking
enforcement may reduce the party’s claim to judgment, or otherwise enforce the lease
contract by self-help or any available judicial procedure or nonjudicial procedure, including
administrative proceeding, arbitration, or the like, in accordance with this Article.
4. Except as otherwise provided in section 554.1305, subsection 1, or this Article or the
lease agreement, the rights and remedies referred to in subsections 2 and 3 are cumulative.
5. If the lease agreement covers both real property and goods, the party seeking
enforcement may proceed under this part as to the goods, or under other applicable law as
to both the real property and the goods in accordance with that party’s rights and remedies
in respect of the real property, in which case this part does not apply.