This section of the Iowa Code, specifically under the Uniform Commercial Code, discusses the concept of an unconditional promise or order. It states that a promise or order is considered unconditional unless it includes an express condition to payment, is subject to or governed by another writing, or has rights or obligations stated in another writing. The presence of a reference to another writing does not automatically make the promise or order conditional.

Unless the instrument otherwise provides, an instrument that states the amount payable in foreign money may be paid in the foreign money or in an equivalent amount in dollars calculated by using the current bank-offered spot rate at the place of payment for the purchase of dollars on the day on which the instrument is paid. 94 Acts, ch 1167, 16, 121, 122

This legal document, governed by the Iowa Code under the Uniform Commercial Code, defines the terms ‘payable on demand’ and ‘payable at a definite time’ for promises or orders. A promise or order is considered ‘payable on demand’ if it explicitly states so, indicates payment at the will of the holder, or does not specify any time of payment. On the other hand, a promise or order is ‘payable at a definite time’ if it becomes due after a specific period of time, at a fixed date or dates, or at a readily ascertainable time or times.

This legal document, governed by the Iowa Code, pertains to the payment terms of promises or orders. It specifies that a promise or order is payable to bearer if it explicitly states so, does not mention a payee, or indicates that it is payable to cash or not to an identified person. On the other hand, a promise or order that is not payable to bearer is payable to order if it is payable to the order of an identified person or to an identified person or order.

This legal document, governed by the Iowa Code under the Uniform Commercial Code, addresses the identification of the person to whom an instrument is payable. The document states that the person to whom an instrument is initially payable is determined by the intent of the person signing as, or in the name or behalf of, the issuer of the instrument. The instrument is payable to the person intended by the signer, even if that person is identified in the instrument by a name or other identification that is not their own.

Except as otherwise provided for items in Article 4, an instrument is payable at the place of payment stated in the instrument. If no place of payment is stated, an instrument is payable at the address of the drawee or maker stated in the instrument. If no address is stated, the place of payment is the place of business of the drawee or maker. If a drawee or maker has more than one place of business, the place of payment is any place of business of the drawee or maker chosen by the person entitled to enforce the instrument.

1.Unless otherwise provided in the instrument, an instrument is not payable with interest, and interest on an interest-bearing instrument is payable from the date of the instrument. 2.Interest may be stated in an instrument as a fixed or variable amount of money or it may be expressed as a fixed or variable rate or rates. The amount or rate of interest may be stated or described in the instrument in any manner and may require reference to information not contained in the instrument.

1.An instrument may be antedated or postdated. The date stated determines the time of payment if the instrument is payable at a fixed period after date. Except as provided in section 554.4401, subsection 3, an instrument payable on demand is not payable before the date of the instrument. 2.If an instrument is undated, its date is the date of its issue or, in the case of an unissued instrument, the date it first comes into possession of a holder.

If an instrument contains contradictory terms, typewritten terms prevail over printed terms, handwritten terms prevail over both, and words prevail over numbers. 94 Acts, ch 1167, 23, 121, 122

This legal document defines an ‘incomplete instrument’ as a signed writing that is intended to be completed by adding words or numbers. It states that if an incomplete instrument falls under the category of an instrument as defined in section 554.3104 of the Iowa Code, it can be enforced according to its terms, whether completed or not. If an incomplete instrument does not fall under section 554.3104 but meets the requirements after completion, it can also be enforced.