Iowa Code 573A.7 – Order of court
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Terms Used In Iowa Code 573A.7
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- property: includes personal and real property. See Iowa Code 4.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
573A.7 Order of court.
1. If the court determines that said contract should be terminated, or if the parties have agreed to its termination, the court shall include in its order:
a. The terms and conditions imposed upon each party to the contract, including the extent of the liability of the sureties upon any bond;
b. The protective requirements, if any be deemed necessary, to protect the property, and provision for the payment of the cost thereof;
c. The determination of the relative rights of the parties involved, including the compensation or payments, if any, which any party shall pay to any other person, firm or corporation under the facts and circumstances of the case.
2. If the court determines that the contract shall not be terminated, it shall state in its order the reasons therefor. The court shall adjust and assess the costs in such manner as may be equitable and fair under the circumstances.
[C54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §573A.7]
2013 Acts, ch 30, §261
1. If the court determines that said contract should be terminated, or if the parties have agreed to its termination, the court shall include in its order:
a. The terms and conditions imposed upon each party to the contract, including the extent of the liability of the sureties upon any bond;
b. The protective requirements, if any be deemed necessary, to protect the property, and provision for the payment of the cost thereof;
c. The determination of the relative rights of the parties involved, including the compensation or payments, if any, which any party shall pay to any other person, firm or corporation under the facts and circumstances of the case.
2. If the court determines that the contract shall not be terminated, it shall state in its order the reasons therefor. The court shall adjust and assess the costs in such manner as may be equitable and fair under the circumstances.
[C54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §573A.7]
2013 Acts, ch 30, §261