554.2725 Statute of limitations in contracts for sale. 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 ismade, except that where a warranty explicitly extends to future performance of the goodsand discovery of the breach must await the time of such performance the cause of actionaccrues 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 actionfor the same breach such other action may be commenced after the expiration of the timelimited and within six months after the termination of the first action unless the terminationresulted 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 r 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. [C66, 71, 73, 75, 77, 79, 81, §554.2725]Period of limitation, chapter 614 Sat Dec 23 01:53:56 2023 Iowa Code 2024, Section 554.2725 (25, 0)
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