554.13505 Cancellation and termination and effect of cancellation, termination, rescission, or fraud on rights and remedies. 1. On cancellation of the lease contract, all obligations that are still executory on both sides are discharged, but any right based on prior default or performance survives, andthe canceling party also retains any remedy for default of the whole lease contract or anyunperformed balance. 2. On termination of the lease contract, all obligations that are still executory on both sides are discharged but any right based on prior default or performance survives. 3. Unless the contrary intention clearly appears, expressions of 'cancellation', 'rescission', or the like of the lease contract may not be construed as a renunciation ordischarge of any claim in damages for an antecedent default. 4. Rights and remedies for material misrepresentation or fraud include all rights and remedies available under this Article for default. 5. Neither rescission nor a claim for rescission of the lease contract nor rejection or return of the goods may bar or be deemed inconsistent with a claim for damages or other right orremedy. efault. 5. Neither rescission nor a claim for rescission of the lease contract nor rejection or return of the goods may bar or be deemed inconsistent with a claim for damages or other right orremedy. 94 Acts, ch 1052, §57Referred to in §554.13406, 554.13508, 554.13523 Sat Dec 23 11:03:26 2023 Iowa Code 2024, Section 554.13505 (24, 0)
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