A party to or purchaser for value in good faith of a document of title,other than a bill of lading, that relies upon the description of the goods in the document may recover from the issuer damages caused by the nonreceipt or misdescription of the goods, except to the extent that: 1. the document conspicuously indicates that the issuer does not know whether allor part of the goods in fact were received or conform to the description, such as the case in which the description isin terms of marks or labels or kind, quantity, or condition, or the receipt or description isqualified by “contents, condition, and quality unknown”, “said to contain”, or words of similar import, ifthe indication istrue; or 2. the party or purchaser otherwise has notice of the nonreceipt or misdescription. [S13, §3138-a20; C24, 27, 31, 35, 39, §9680; C46, 50, 54, 58, 62, §542.20; C66, 71, 73, 75, 77, 79, 81, §554.7203]
‹ Prev All Iowa sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.