§ 554.2725 — Statute of limitations in contracts for sale

Iowa § 554.2725

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

Text

1. By the original agreement the parties may reduce the period of limitation to not less
than one year but may not extend it.
2. A cause of action accrues when the breach occurs, regardless of the aggrieved party’s
lack of knowledge of the breach. A breach of warranty occurs when tender of delivery is
made, except that where a warranty explicitly extends to future performance of the goods
and discovery of the breach must await the time of such performance the cause of action
accrues when the breach is or should have been discovered.
3. Where an action commenced within the time limited by law or by agreement as
provided in subsection 1 is so terminated as to leave available a remedy by another action
for the same breach such other action may be commenced after the expiration of the time
limited and within six months after the termination of the first action unless the termination
resulted from voluntary discontinuance or from dismissal for failure or neglect to prosecute.
4. This section does not alter the law on tolling of the statute of limitations nor does it
apply to causes of action which have accrued before this chapter becomes effective.

Legislative History

[C66, 71, 73, 75, 77, 79, 81, §554.2725]