1. Unless otherwise agreed, if delivered goods may be returned by the buyer even though they conform to the contract, the transaction is
a. a “sale on approval” if the goods are delivered primarily for use, and
b. a “sale or return” if the goods are delivered primarily for resale.
2. Goods held on approval are not subject to the claims of the buyer’s creditors until acceptance; goods held on sale or return are subject to such claims while in the buyer’s possession.
3. Any “or return” term of a contract for sale is to be treated as a separate contract for sale within the statute of frauds section of this Article (section 554.2201) and as contradicting the sale aspect of the contract within the provisions of this Article on parol or extrinsic evidence (section 554.2202). [C24, 27, 31, 35, 39, §9948; C46, 50, 54, 58, 62, §554.20; C66, 71, 73, 75, 77, 79, 81, §554.2326] 2000 Acts, ch 1149, §143, 187 Referred to in §554.2103, 554.13103 \n
Notes of Decisions
Midwestone Bank & Trust v. Com. Fed. Bank, 331 B.R. 802 (S.D. Iowa 2005).
· cites it 33× “9203 (1), its interest would attach because the delivery of the cattle should be deemed a sale to the Weilers under Iowa Code § 554.2326 (3). MSB contends the Bankruptcy Court misinterpreted the provision governing whether the delivery of the cattle to the Weilers was a deemed…”
Towe Farms, Inc. v. Cent. Iowa Prod. Credit Ass'n, 528 F. Supp. 500 (S.D. Iowa 1981).
· cites it 4× “While a duty to notify creditors is imposed where goods are consigned for sale, Iowa Code § 554.2326 (1981), defend *507 ants cite no authority, nor is this court aware of any, for imposing such a duty upon a lessor.”
— Iowa Code § 554.2326(3) — 1 case
Midwestone Bank & Trust v. Com. Fed. Bank, 331 B.R. 802 (S.D. Iowa 2005).
“9203 (1), its interest would attach because the delivery of the cattle should be deemed a sale to the Weilers under Iowa Code § 554.2326 (3). MSB contends the Bankruptcy Court misinterpreted the provision governing whether the delivery of the cattle to the Weilers was a deemed…”
— Iowa Code § 554.2326(3)(b) — 1 case
Midwestone Bank & Trust v. Com. Fed. Bank, 331 B.R. 802 (S.D. Iowa 2005).
“9203 (1), its interest would attach because the delivery of the cattle should be deemed a sale to the Weilers under Iowa Code § 554.2326 (3). MSB contends the Bankruptcy Court misinterpreted the provision governing whether the delivery of the cattle to the Weilers was a deemed…”
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