Iowa Code 488.107 – Supplemental principles of law — rate of interest
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1. Unless displaced by particular provisions of this chapter, the principles of law and equity supplement this chapter.
Terms Used In Iowa Code 488.107
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
2. If an obligation to pay interest arises under this chapter and the rate is not specified, the rate shall be set according to the provisions of section 535.3.