§ 554.3311

554.3311 Accord and satisfaction by use of instrument. 1. If a person against whom a claim is asserted proves that that person in good faith tendered an instrument to the claimant as full satisfaction of the claim, the amount of theclaim was unliquidated or subject to a bona fide dispute, and the claimant obtained paymentof the instrument, the following subsections apply. 2. Unless subsection 3 applies, the claim is discharged if the person against whom the claim is asserted proves that the instrument or an accompanying written communicationcontained a conspicuous statement to the effect that the instrument was tendered as fullsatisfaction of the claim. 3. Subject to subsection 4, a claim is not discharged under subsection 2 if either of the following applies: a. The claimant, if an organization, proves that:(1) within a reasonable time before the tender, the claimant sent a conspicuous statement to the person against whom the claim is asserted that communications concerning disputeddebts, including an instrument tendered as full satisfaction of a debt, are to be sent to adesignated person, office, or place; and (2) the instrument or accompanying communication was not received by

ebts, including an instrument tendered as full satisfaction of a debt, are to be sent to adesignated person, office, or place; and (2) the instrument or accompanying communication was not received by that designated person, office, or place. b. The claimant, whether or not an organization, proves that within ninety days after payment of the instrument, the claimant tendered repayment of the amount of theinstrument to the person against whom the claim is asserted. This paragraph does notapply if the claimant is an organization that sent a statement complying with paragraph 'a',subparagraph (1). 4. A claim is discharged if the person against whom the claim is asserted proves that within a reasonable time before collection of the instrument was initiated, the claimant, oran agent of the claimant having direct responsibility with respect to the disputed obligation,knew that the instrument was tendered in full satisfaction of the claim. 94 Acts, ch 1167, §46, 122; 2013 Acts, ch 30, §145 Sat Dec 23 01:56:52 2023 Iowa Code 2024, Section 554.3311 (25, 0)