Iowa Code 554.13217 – Identification
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Terms Used In Iowa Code 554.13217
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
554.13217 Identification.
Identification of goods as goods to which a lease contract refers may be made at any time and in any manner explicitly agreed to by the parties. In the absence of explicit agreement, identification occurs:
1. when the lease contract is made if the lease contract is for a lease of goods that are existing and identified;
2. when the goods are shipped, marked, or otherwise designated by the lessor as goods to which the lease contract refers, if the lease contract is for a lease of goods that are not existing and identified; or
3. when the young are conceived, if the lease contract is for a lease of unborn young of animals.
94 Acts, ch 1052, §30
Referred to in §554.13522
Identification of goods as goods to which a lease contract refers may be made at any time and in any manner explicitly agreed to by the parties. In the absence of explicit agreement, identification occurs:
1. when the lease contract is made if the lease contract is for a lease of goods that are existing and identified;
2. when the goods are shipped, marked, or otherwise designated by the lessor as goods to which the lease contract refers, if the lease contract is for a lease of goods that are not existing and identified; or
3. when the young are conceived, if the lease contract is for a lease of unborn young of animals.
94 Acts, ch 1052, §30
Referred to in §554.13522