554.1302 Variation by agreement. 1. Except as otherwise provided in subsection 2 or elsewhere in this chapter, the effect of provisions of this chapter may be varied by agreement. 2. The obligations of good faith, diligence, reasonableness, and care prescribed by this chapter may not be disclaimed by agreement. The parties, by agreement, may determine thestandards by which the performance of those obligations is to be measured if those standardsare not manifestly unreasonable. Whenever this chapter requires an action to be taken withina reasonable time, a time that is not manifestly unreasonable may be fixed by agreement. 3. The presence in certain provisions of this chapter of the phrase 'unless otherwise agreed', or words of similar import, does not imply that the effect of other provisions maynot be varied by agreement under this section. 2007 Acts, ch 41, §22Referred to in §554.5103, 554.12204, 554.13518, 554.13519, 554.13527, 554.13528 Sat Dec 23 01:49:16 2023 Iowa Code 2024, Section 554.1302 (24, 0)
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