Iowa Code 554.2711 – Buyer’s remedies in general — buyer’s security interest in rejected goods
Current as of: 2023 | Check for updates
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1. Where the seller fails to make delivery or repudiates or the buyer rightfully rejects or justifiably revokes acceptance then with respect to any goods involved, and with respect to the whole if the breach goes to the whole contract (section 554.2612), the buyer may cancel and whether or not the buyer has done so may in addition to recovering so much of the price as has been paid:
a. “cover” and have damages under section 554.2712 as to all the goods affected whether or not they have been identified to the contract; or
b. recover damages for nondelivery as provided in this Article (section 554.2713).
Terms Used In Iowa Code 554.2711
- Contract: means the same as defined in section 554D. See Iowa Code 554E.1
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
2. Where the seller fails to deliver or repudiates the buyer may also:
a. if the goods have been identified recover them as provided in this Article (section 554.2502); or
b. in a proper case obtain specific performance or replevy the goods as provided in this Article (section 554.2716).
3. On rightful rejection or justifiable revocation of acceptance a buyer has a security interest in goods in the buyer’s possession or control for any payments made on their price and any expenses reasonably incurred in their inspection, receipt, transportation, care and custody and may hold such goods and resell them in like manner as an aggrieved seller (section 554.2706).