Iowa Code (Last Updated: December 05, 2016) |
Title XIII. COMMERCE |
Chapter 523G. INVENTION DEVELOPMENT SERVICES |
Section 523G.7. Negotiable instruments.
Latest version.
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An invention developer shall not take a negotiable instrument from a customer as part of a contract, unless the negotiable instrument is a check constituting evidence of the customer’s obligation. A person in possession of a negotiable instrument is not a holder in due course as defined in section 554.3302, if the person takes a negotiable instrument from a customer in violation of this section.