Iowa Code

Iowa Code § 537A.3 (2026)

Failure of consideration

✓ current as of July 2026

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The want or failure, in whole or in part, of the consideration of a written contract may be shown as a defense, total or partial, except as provided in the uniform commercial code, chapter 554. [C51, §976; R60, §1825; C73, §2114; C97, §3070; C24, 27, 31, 35, 39, §9441; C46, 50, 54, 58, 62, 66, 71, 73, §537.3; C75, 77, 79, 81, §537A.3]

Notes of Decisions

Cited in 8 cases, 1983–2017 · leading case: Hubbard Milling Co. v. Citizens State Bank, 385 N.W.2d 255 (Iowa 1986).

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Hubbard Milling Co. v. Citizens State Bank, 385 N.W.2d 255 (Iowa 1986). · cites it 12× “After trial, the district court found as a fact that defendant received no benefit from the subordination agreement, and, thus, under Iowa Code section 537A.3, defendant had a valid defense of lack of consideration for the alleged contract.”

Fed. Land Bank of Omaha v. Woods, 480 N.W.2d 61 (Iowa 1992). · cites it 2× “3 (1973) (as to contracts generally) (now codified at section 537A.3); 554.-3408 (as to commercial paper).”

Johnson v. Dodgen, 451 N.W.2d 168 (Iowa 1990). · cites it 2× “Iowa Code § 537A.3 (1983). A. Essence of the agreement.”

Ins. Agents, Inc. v. Abel, 338 N.W.2d 531 (Iowa Ct. App. 1983). · cites it 4× “This language establishes a presumption of consideration when the agreement sought to be enforced is in writing and signed by the party to be bound.”

Cent. States Indus. Supply, Inc. v. McCullough, 279 F. Supp. 2d 1005 (N.D. Iowa 2003). · cites it 2× “” Thus, the ultimate burden is *1031 on McCullough to establish lack of consideration, even though the burden at summary judgment is on CSIS and CPI, as the nonmovants, to generate a genuine issue of material fact that there was consideration for the 1998 Employment Agreement.”

Robert W. Davis & Kirk K. Peterson v. Am. Int'l Bridge, Inc., Anfu Wang & Chun Ling Lu, 910 N.W.2d 621 (Iowa Ct. App. 2017). · cites it 2× “; see Iowa Code § 537A.3 (2014). "The alleged failure of consideration ordinarily must be total to serve as a complete defense to a breach of contract claim.”

Hager v. Davis Transp., Inc., 715 F. Supp. 939 (S.D. Iowa 1989). · cites it 4× “” Defendant cites Iowa Code section 537A.3, a statute that in ordinary contract actions allows failure of consideration of a written contract to be shown as a defense to a contract action.”

Thornton v. Ankeny State Bank, 453 N.W.2d 240 (Iowa Ct. App. 1990). · cites it 2× “” Iowa Code § 537A.3. The Bank argues two different forms of consideration existed to support the second contract.”

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