Lance Allen Degeneffe and Tracy Lynn Degeneffe v. Home Pride Contractors, Inc.

Summary

The court held that the roofing contract was not a consumer credit sale under the Iowa Consumer Credit Code because it required payment in full when the work was completed. The thirty-day period before default interest accrued was a grace period for collecting an overdue debt, not a right to defer payment, and the existence of a possible finance charge could not independently establish a credit transaction. The court reversed the homeowners’ partial summary judgment and remanded for entry of summary judgment in favor of Home Pride.