Iowa Code § 554.2309

Absence of specific time provisions — notice of termination

Known as the Uniform Commercial Code

The act spans §§ 554–554 (631 sections).

Applied in 1 court decision — leading case Virgil Johnson and Virgil Johnson Trucking v. Associated Milk Producers, Inc. (2016)

Most recently applied in Virgil Johnson and Virgil Johnson Trucking v. Associated Milk Producers, Inc. (October 2016)

[C24, 27, 31, 35, 39, §9972, 9974, 9976, 9977; C46, 50, 54, 58, 62, §554.44, 554.46, 554.48, 554.49; C66, 71, 73, 75, 77, 79, 81, §554.2309]

1. The time for shipment or delivery or any other action under a contract if not provided in this Article or agreed upon shall be a reasonable time.

2. Where the contract provides for successive performances but is indefinite in duration it is valid for a reasonable time but unless otherwise agreed may be terminated at any time by either party.

3. Termination of a contract by one party except on the happening of an agreed event requires that reasonable notification be received by the other party and an agreement dispensing with notification is invalid if its operation would be unconscionable.

Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.