Iowa Code § 554.13517

Revocation of acceptance of goods
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1. A lessee may revoke acceptance of a lot or commercial unit whose nonconformity substantially impairs itsvalue to the lessee ifthe lessee has accepted it: a. except in the case of a finance lease, on the reasonable assumption that its nonconformity would be cured and ithas not been seasonably cured; or b. without discovery of the nonconformity if the lessee’s acceptance was reasonably induced either by the lessor’s assurances or, except in the case of a finance lease, by the difficulty of discovery before acceptance. 2. Except in the case of a finance lease that is not a consumer lease, a lessee may revoke acceptance of a lot or commercial unit if the lessor defaults under the lease contract and the default substantially impairs the value of that lot or commercial unit to the lessee. 3. If the lease agreement so provides, the lessee may revoke acceptance of a lot or commercial unit because of other defaults by the lessor. 4. Revocation of acceptance must occur within a reasonabletimeafterthe lesseediscovers or should have discovered the ground for it and before any substantial change in condition of the goods which isnot caused by the nonconformity. Revocation isnot effective until the lessee notifies the lessor. 5. A lessee who so revokes has the same rights and duties with regard to the goods involved as ifthe lessee had rejected them.

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