555A.5 Effect on indebtedness. Rescission of any contract pursuant to this chapter or the failure to provide a copy of the contract to the buyer as required by this chapter shall void any contract, note, instrument,or other evidence of indebtedness executed or entered into in connection with the contractand shall constitute a complete defense in any action based on the contract, note, instrumentor other evidence of indebtedness brought by the seller, the seller’s successors or assignsunless a successor or assignee of the seller after the seventh business day following the daythe contract was signed has detrimentally relied upon a representation of the buyer that thecontract has not been rescinded. This section shall not affect the rights of holders in duecourse of checks made by the buyer. [C75, 77, §713B.5; C79, 81, §82.5]C93, §555A.5Referred to in §552A.3 Sat Dec 23 11:04:13 2023 Iowa Code 2024, Section 555A.5 (15, 0)
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