554.7203 Liability for nonreceipt or misdescription. A party to or purchaser for value in good faith of a document of title, other than a bill of lading, that relies upon the description of the goods in the document may recover from theissuer damages caused by the nonreceipt or misdescription of the goods, except to the extentthat: 1. the document conspicuously indicates that the issuer does not know whether all or part of the goods in fact were received or conform to the description, such as the case in whichthe description is in terms of marks or labels or kind, quantity, or condition, or the receipt ordescription is qualified by 'contents, condition, and quality unknown', 'said to contain', orwords of similar import, if the indication is true; or 2. the party or purchaser otherwise has notice of the nonreceipt or misdescription.[S13, §3138-a20; C24, 27, 31, 35, 39, §9680; C46, 50, 54, 58, 62, §542.20; C66, 71, 73, 75, 77, 79, 81, §554.7203] 2007 Acts, ch 30, §9, 45, 46 Sat Dec 23 01:57:47 2023 Iowa Code 2024, Section 554.7203 (24, 0)
Iowa Legal Code