§ 554.13503 — Modification or impairment of rights and remedies

Iowa § 554.13503

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

Text

1. Except as otherwise provided in this Article, the lease agreement may include rights
and remedies for default in addition to or in substitution for those provided in this Article and
may limit or alter the measure of damages recoverable under this Article.
2. Resort to a remedy provided under this Article or in the lease agreement is optional
unless the remedy is expressly agreed to be exclusive. If circumstances cause an exclusive
or limited remedy to fail of its essential purpose, or provision for an exclusive remedy is
unconscionable, remedy may be had as provided in this Article.
3. Consequential damages may be liquidated under section 554.13504, or may
otherwise be limited, altered, or excluded unless the limitation, alteration, or exclusion is
unconscionable. Limitation, alteration, or exclusion of consequential damages for injury
to the person in the case of consumer goods is prima facie unconscionable but limitation,
alteration, or exclusion of damages where the loss is commercial is not prima facie
unconscionable.
4. Rights and remedies on default by the lessor or the lessee with respect to any obligation
or promise collateral or ancillary to the lease contract are not impaired by this Article.