reglab/housing_qa huggingface dataset:
IA Code § 554.3101 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3101 - Short title.

554.3101 Short title.   This Article may be cited as Uniform Commercial Code — Negotiable Instruments.  94 Acts, ch 1167, §10, 121, 122
IA Code § 554.3102 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3102 - Subject matter.

554.3102 Subject matter.   1. This Article applies to negotiable instruments. It does not apply to money, to payment orders governed by Article 12, or to securities governed by Article 8.   2. If there is conflict between this Article and Article 4 or 9, Articles 4 and 9 govern.   3. Regulations of the Board of Governors of the Federal Reserve System and operating circulars of the Federal Reserve Banks supersede any inconsistent provision of this Article to the extent of the inconsistency.  94 Acts, ch 1167, §11, 121, 122; 95 Acts, ch 67, §41
IA Code § 554.3105 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3105 - Issue of instrument.

554.3105 Issue of instrument.   1. “Issue” means the first delivery of an instrument by the maker or drawer, whether to a holder or nonholder, for the purpose of giving rights on the instrument to any person.   2. An unissued instrument, or an unissued incomplete instrument that is completed, is binding on the maker or drawer, but nonissuance is a defense. An instrument that is conditionally issued or is issued for a special purpose is binding on the maker or drawer, but failure of the condition or special purpose to be fulfilled is a defense.   3. “Issuer” applies to issued and unissued instruments and means a maker or drawer of an instrument.  94 Acts, ch 1167, §14, 121, 122  Referred to in §554.3103
IA Code § 554.3106 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3106 - Unconditional promise or order.

554.3106 Unconditional promise or order.   1. Except as provided in this section, for the purposes of section 554.3104, subsection 1, a promise or order is unconditional unless it states an express condition to payment, that the promise or order is subject to or governed by another writing, or that rights or obligations with respect to the promise or order are stated in another writing. A reference to another writing does not of itself make the promise or order conditional.   2. A promise or order is not made conditional by a reference to another writing for a statement of rights with respect to collateral, prepayment, or acceleration, or because payment is limited to resort to a particular fund or source.   3. If a promise or order requires, as a condition to payment, a countersignature by a person whose specimen signature appears on the promise or order, the condition does not make the promise or order conditional for the purposes of section 554.3104, subsection 1. If the person whose specimen signature appears on an instrument fails to countersign the instrument, the failure to countersign is a defense to the obligation of the issuer, but the failure does not prevent a transferee of the instrument from becoming a holder of the instrument.   4. If a promise or order at the time it is issued or first comes into possession of a holder contains a statement, required by applicable statutory or administrative law, to the effect that the rights of a holder or transferee are subject to claims or defenses that the issuer could assert against the original payee, the promise or order is not thereby made conditional for the purposes of section 554.3104, subsection 1; but if the promise or order is an instrument, there cannot be a holder in due course of the instrument.  94 Acts, ch 1167, §15, 121, 122; 2013 Acts, ch 30, §261  Referred to in §554.3302
IA Code § 554.3107 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3107 - Instrument payable in foreign money.

554.3107 Instrument payable in foreign money.   Unless the instrument otherwise provides, an instrument that states the amount payable in foreign money may be paid in the foreign money or in an equivalent amount in dollars calculated by using the current bank-offered spot rate at the place of payment for the purchase of dollars on the day on which the instrument is paid.  94 Acts, ch 1167, §16, 121, 122
IA Code § 554.3108 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3108 - Payable on demand or at definite time.

554.3108 Payable on demand or at definite time.   1. A promise or order is “payable on demand” if it states that it is payable on demand or at sight, or otherwise indicates that it is payable at the will of the holder, or does not state any time of payment.   2. A promise or order is “payable at a definite time” if it is payable on elapse of a definite period of time after sight or acceptance or at a fixed date or dates or at a time or times readily ascertainable at the time the promise or order is issued, subject to rights of prepayment, acceleration, extension at the option of the holder, or extension to a further definite time at the option of the maker or acceptor or automatically upon or after a specified act or event.   3. If an instrument, payable at a fixed date, is also payable upon demand made before the fixed date, the instrument is payable on demand until the fixed date and, if demand for payment is not made before that date, becomes payable at a definite time on the fixed date.  94 Acts, ch 1167, §17, 121, 122; 2013 Acts, ch 30, §261  Referred to in §554.3103
IA Code § 554.3109 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3109 - Payable to bearer or to order.

554.3109 Payable to bearer or to order.   1. A promise or order is payable to bearer if it:   a. states that it is payable to bearer or to the order of bearer or otherwise indicates that the person in possession of the promise or order is entitled to payment;   b. does not state a payee; or   c. states that it is payable to or to the order of cash or otherwise indicates that it is not payable to an identified person.   2. A promise or order that is not payable to bearer is payable to order if it is payable to the order of an identified person or to an identified person or order. A promise or order that is payable to order is payable to the identified person.   3. An instrument payable to bearer may become payable to an identified person if it is specially endorsed pursuant to section 554.3205, subsection 1. An instrument payable to an identified person may become payable to bearer if it is endorsed in blank pursuant to section 554.3205, subsection 2.  94 Acts, ch 1167, §18, 121, 122; 2013 Acts, ch 30, §261  Referred to in §554.3103
IA Code § 554.3110 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3110 - Identification of person to whom instrument is payable.

554.3110 Identification of person to whom instrument is payable.   1. The person to whom an instrument is initially payable is determined by the intent of the person, whether or not authorized, signing as, or in the name or behalf of, the issuer of the instrument. The instrument is payable to the person intended by the signer even if that person is identified in the instrument by a name or other identification that is not that of the intended person. If more than one person signs in the name or behalf of the issuer of an instrument and all the signers do not intend the same person as payee, the instrument is payable to any person intended by one or more of the signers.   2. If the signature of the issuer of an instrument is made by automated means, such as a check-writing machine, the payee of the instrument is determined by the intent of the person who supplied the name or identification of the payee, whether or not authorized to do so.   3. A person to whom an instrument is payable may be identified in any way, including by name, identifying number, office, or account number. For the purpose of determining the holder of an instrument, the following rules apply:   a. if an instrument is payable to an account and the account is identified only by number, the instrument is payable to the person to whom the account is payable. If an instrument is payable to an account identified by number and by the name of a person, the instrument is payable to the named person, whether or not that person is the owner of the account identified by number.   b. if an instrument is payable to:   (1) a trust, an estate, or a person described as trustee or representative of a trust or estate, the instrument is payable to the trustee, the representative, or a successor of either, whether or not the beneficiary or estate is also named;   (2) a person described as agent or similar representative of a named or identified person, the instrument is payable to the represented person, the representative, or a successor of the representative;   (3) a fund or organization that is not a legal entity, the instrument is payable to a representative of the members of the fund or organization; or   (4) an office or to a person described as holding an office, the instrument is payable to the named person, the incumbent of the office, or a successor to the incumbent.   4. If an instrument is payable to two or more persons alternatively, it is payable to any of them and may be negotiated, discharged, or enforced by any or all of them in possession of the instrument. If an instrument is payable to two or more persons not alternatively, it is payable to all of them and may be negotiated, discharged, or enforced only by all of them. If an instrument payable to two or more persons is ambiguous as to whether it is payable to the persons alternatively, the instrument is payable to the persons alternatively.  94 Acts, ch 1167, §19, 121, 122  Referred to in §554.3205, 554.3404
IA Code § 554.3111 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3111 - Place of payment.

554.3111 Place of payment.   Except as otherwise provided for items in Article 4, an instrument is payable at the place of payment stated in the instrument. If no place of payment is stated, an instrument is payable at the address of the drawee or maker stated in the instrument. If no address is stated, the place of payment is the place of business of the drawee or maker. If a drawee or maker has more than one place of business, the place of payment is any place of business of the drawee or maker chosen by the person entitled to enforce the instrument. If the drawee or maker has no place of business, the place of payment is the residence of the drawee or maker.  94 Acts, ch 1167, §20, 121, 122
IA Code § 554.3112 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3112 - Interest.

554.3112 Interest.   1. Unless otherwise provided in the instrument, an instrument is not payable with interest, and interest on an interest-bearing instrument is payable from the date of the instrument.   2. Interest may be stated in an instrument as a fixed or variable amount of money or it may be expressed as a fixed or variable rate or rates. The amount or rate of interest may be stated or described in the instrument in any manner and may require reference to information not contained in the instrument. If an instrument provides for interest, but the amount of interest payable cannot be ascertained from the description, interest is payable at the judgment rate in effect at the place of payment of the instrument and at the time interest first accrues.  94 Acts, ch 1167, §21, 121, 122; 2013 Acts, ch 30, §261
IA Code § 554.3113 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3113 - Date of instrument.

554.3113 Date of instrument.   1. An instrument may be antedated or postdated. The date stated determines the time of payment if the instrument is payable at a fixed period after date. Except as provided in section 554.4401, subsection 3, an instrument payable on demand is not payable before the date of the instrument.   2. If an instrument is undated, its date is the date of its issue or, in the case of an unissued instrument, the date it first comes into possession of a holder.  94 Acts, ch 1167, §22, 121, 122
IA Code § 554.3114 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3114 - Contradictory terms of instrument.

554.3114 Contradictory terms of instrument.   If an instrument contains contradictory terms, typewritten terms prevail over printed terms, handwritten terms prevail over both, and words prevail over numbers.  94 Acts, ch 1167, §23, 121, 122
IA Code § 554.3115 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3115 - Incomplete instrument.

554.3115 Incomplete instrument.   1. “Incomplete instrument” means a signed writing, whether or not issued by the signer, the contents of which show at the time of signing that it is incomplete but that the signer intended it to be completed by the addition of words or numbers.   2. Subject to subsection 3, if an incomplete instrument is an instrument under section 554.3104, it may be enforced according to its terms if it is not completed, or according to its terms as augmented by completion. If an incomplete instrument is not an instrument under section 554.3104, but, after completion, the requirements of section 554.3104 are met, the instrument may be enforced according to its terms as augmented by completion.   3. If words or numbers are added to an incomplete instrument without authority of the signer, there is an alteration of the incomplete instrument under section 554.3407.   4. The burden of establishing that words or numbers were added to an incomplete instrument without authority of the signer is on the person asserting the lack of authority.  94 Acts, ch 1167, §24, 121, 122  Referred to in §554.3103, 554.3412, 554.3413, 554.3414, 554.3415, 554.4207
IA Code § 554.3116 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3116 - Joint and several liability — contribution.

554.3116 Joint and several liability — contribution.   1. Except as otherwise provided in the instrument, two or more persons who have the same liability on an instrument as makers, drawers, acceptors, endorsers who endorse as joint payees, or anomalous endorsers are jointly and severally liable in the capacity in which they sign.   2. Except as provided in section 554.3419, subsection 5, or by agreement of the affected parties, a party having joint and several liability who pays the instrument is entitled to receive from any party having the same joint and several liability contribution in accordance with applicable law.   3. Discharge of one party having joint and several liability by a person entitled to enforce the instrument does not affect the right under subsection 2 of a party having the same joint and several liability to receive contribution from the party discharged.  94 Acts, ch 1167, §25, 121, 122
IA Code § 554.3117 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3117 - Other agreements affecting instrument.

554.3117 Other agreements affecting instrument.   Subject to applicable law regarding exclusion of proof of contemporaneous or previous agreements, the obligation of a party to an instrument to pay the instrument may be modified, supplemented, or nullified by a separate agreement of the obligor and a person entitled to enforce the instrument, if the instrument is issued or the obligation is incurred in reliance on the agreement or as part of the same transaction giving rise to the agreement. To the extent an obligation is modified, supplemented, or nullified by an agreement under this section, the agreement is a defense to the obligation.  94 Acts, ch 1167, §26, 121, 122
IA Code § 554.3118 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3118 - Accrual of cause of action.

554.3118 Accrual of cause of action.   1. A cause of action against a maker or an acceptor accrues   a. in the case of a time instrument on the day after maturity;   b. in the case of a demand instrument upon its date or, if no date is stated, on the date of issue.   2. A cause of action against the obligor of a demand or time certificate of deposit accrues upon demand, but demand on a time certificate may not be made until on or after the date of maturity.   3. A cause of action against a drawer of a draft or an endorser of any instrument accrues upon demand following dishonor of the instrument. Notice of dishonor is a demand.   4. Unless an instrument provides otherwise, interest runs at the rate provided by law for a judgment   a. in the case of a maker, acceptor or other primary obligor of a demand instrument, from the date of demand;   b. in all other cases from the date of accrual of the cause of action.  94 Acts, ch 1167, §27, 121, 122
IA Code § 554.3119 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3119 - Notice of right to defend action.

554.3119 Notice of right to defend action.   In an action for breach of an obligation for which a third person is answerable over pursuant to this Article or Article 4, the defendant may give the third person written notice of the litigation, and the person notified may then give similar notice to any other person who is answerable over. If the notice states that the person notified may come in and defend and that failure to do so will bind the person notified in an action later brought by the person giving the notice as to any determination of fact common to the two litigations, the person notified is so bound unless after seasonable receipt of the notice the person notified does come in and defend.  94 Acts, ch 1167, §28, 121, 122; 2013 Acts, ch 30, §261
IA Code § 554.3120 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3120 - Instruments “payable through” bank.

554.3120 Instruments “payable through” bank. Repealed by 94 Acts, ch 1167, §121, 122.
IA Code § 554.3121 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3121 - Instruments payable at bank.

554.3121 Instruments payable at bank. Repealed by 94 Acts, ch 1167, §121, 122.
IA Code § 554.3122 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3122 - Accrual of cause of action.

554.3122 Accrual of cause of action. Repealed by 94 Acts, ch 1167, §121, 122.
IA Code § 554.3201 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3201 - Negotiation.

554.3201 Negotiation.   1. “Negotiation” means a transfer of possession, whether voluntary or involuntary, of an instrument by a person other than the issuer to a person who thereby becomes its holder.   2. Except for negotiation by a remitter, if an instrument is payable to an identified person, negotiation requires transfer of possession of the instrument and its endorsement by the holder. If an instrument is payable to bearer, it may be negotiated by transfer of possession alone.  94 Acts, ch 1167, §29, 121, 122  Referred to in §554.3103
IA Code § 554.3202 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3202 - Negotiation subject to rescission.

554.3202 Negotiation subject to rescission.   1. Negotiation is effective even if obtained from an infant, a corporation exceeding its powers, or a person without capacity; by fraud, duress, or mistake; or in breach of duty or as part of an illegal transaction.   2. To the extent permitted by other law, negotiation may be rescinded or may be subject to other remedies, but those remedies may not be asserted against a subsequent holder in due course or a person paying the instrument in good faith and without knowledge of facts that are a basis for rescission or other remedy.  94 Acts, ch 1167, §30, 121, 122; 2013 Acts, ch 30, §143
IA Code § 554.3203 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3203 - Transfer of instrument — rights acquired by transfer.

554.3203 Transfer of instrument — rights acquired by transfer.   1. An instrument is transferred when it is delivered by a person other than its issuer for the purpose of giving to the person receiving delivery the right to enforce the instrument.   2. Transfer of an instrument, whether or not the transfer is a negotiation, vests in the transferee any right of the transferor to enforce the instrument, including any right as a holder in due course, but the transferee cannot acquire rights of a holder in due course by a transfer, directly or indirectly, from a holder in due course if the transferee engaged in fraud or illegality affecting the instrument.   3. Unless otherwise agreed, if an instrument is transferred for value and the transferee does not become a holder because of lack of endorsement by the transferor, the transferee has a specifically enforceable right to the unqualified endorsement of the transferor, but negotiation of the instrument does not occur until the endorsement is made.   4. If a transferor purports to transfer less than the entire instrument, negotiation of the instrument does not occur. The transferee obtains no rights under this Article and has only the rights of a partial assignee.  94 Acts, ch 1167, §31, 121, 122  Referred to in §554.3103
IA Code § 554.3204 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.3204 - Endorsement.

554.3204 Endorsement.   1. “Endorsement” means a signature, other than that of a signer as maker, drawer, or acceptor, that alone or accompanied by other words is made on an instrument for the purpose of negotiating the instrument, restricting payment of the instrument, or incurring endorser’s liability on the instrument, but regardless of the intent of the signer, a signature and its accompanying words is an endorsement unless the accompanying words, terms of the instrument, place of the signature, or other circumstances unambiguously indicate that the signature was made for a purpose other than endorsement. For the purpose of determining whether a signature is made on an instrument, a paper affixed to the instrument is a part of the instrument.   2. “Endorser” means a person who makes an endorsement.   3. For the purpose of determining whether the transferee of an instrument is a holder, an endorsement that transfers a security interest in the instrument is effective as an unqualified endorsement of the instrument.   4. If an instrument is payable to a holder under a name that is not the name of the holder, endorsement may be made by the holder in the name stated in the instrument or in the holder’s name or both, but signature in both names may be required by a person paying or taking the instrument for value or collection.  94 Acts, ch 1167, §32, 121, 122; 2013 Acts, ch 30, §261  Referred to in §554.3103