554.13221 Casualty to identified goods. If a lease contract requires goods identified when the lease contract is made, and the goods suffer casualty without fault of the lessee, the lessor or the supplier before delivery, or thegoods suffer casualty before risk of loss passes to the lessee pursuant to the lease agreementor section 554.13219, then: 1. if the loss is total, the lease contract is avoided; and2. if the loss is partial or the goods have so deteriorated as to no longer conform to the lease contract, the lessee may nevertheless demand inspection and at the lessee’s option either treatthe lease contract as avoided or, except in a finance lease that is not a consumer lease, acceptthe goods with due allowance from the rent payable for the balance of the lease term for thedeterioration or the deficiency in quantity but without further right against the lessor. 94 Acts, ch 1052, §34 Sat Dec 23 11:03:15 2023 Iowa Code 2024, Section 554.13221 (24, 0)
Iowa Legal Code