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Home » US Law » 2021 Tennessee Code » Title 47 - Commercial Instruments and Transactions » Chapter 50 - Miscellaneous Provisions

§ 47-50-101. Private and Corporation Seals Abolished

The use of seals in or upon written contracts or other instruments of writing, whether of persons or of corporations, is abolished, and the absence of such seal therefrom, or its addition thereto, shall not affect its character or validity or legal effect in any respect. Code 1858, § 1804 (deriv. Acts 1849-1850, ch. 20, […]

§ 47-50-102. Assignable Instruments — Suit by Assignee

Bonds with collateral conditions, bills or notes for specific articles or the performance of any duty, nonnegotiable notes for money and accepted orders shall be assignable, and suit may be prosecuted by the assignee in the assignee’s own name. Code 1858, § 1967 (deriv. Acts 1801, ch. 6, § 54); Shan., § 3516; mod. Code […]

§ 47-50-104. Failure of Consideration — Defense

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, as the case may be, in an action on such contract, brought by anyone who is not an innocent and bona fide holder. Code 1858, § 1806 (deriv. Acts 1849-1850, […]

§ 47-50-105. Nonnegotiable Orders for Payment of Money

When any person, by a nonnegotiable order in writing, signed by the person’s proper hand, directs the payment of any money in the hands of another person, to any person whatsoever, or to the bearer, the money shall, by virtue thereof, be due and payable to the person to whom the order is drawn payable. […]

§ 47-50-106. Action on Instruments May Be Joint or Several

Upon any note or negotiable instrument, the holder may maintain a joint action against the maker and any one (1) or more of the sureties or endorsers; or a joint and several action against the maker and/or any one (1) or more of the sureties or endorsers. Code 1858, § 1958 (deriv. Acts 1820, ch. […]

§ 47-50-107. Action on Protested Bill May Be Joint or Several

Any person having a right to demand any sum of money due upon a protested bill of exchange may commence and prosecute an action for principal, interest, and charges of protest, against the drawer, endorsers, or other party, jointly, or against either of them separately. Code 1858, § 1962 (deriv. Acts 1741, ch. 16, § […]

§ 47-50-108. Effect of Epidemic

Whenever the legally constituted health authorities of any incorporated town or city, or the mayor, in the absence of a board of health, in this state, shall officially announce the prevalence, as an epidemic, within the limits of such town or city, of any contagious or infectious disease of so malignant or dangerous a character […]

§ 47-50-109. Procurement of Breach of Contracts Unlawful — Damages

It is unlawful for any person, by inducement, persuasion, misrepresentation, or other means, to induce or procure the breach or violation, refusal or failure to perform any lawful contract by any party thereto; and, in every case where a breach or violation of such contract is so procured, the person so procuring or inducing the […]

§ 47-50-110. Printed Contract Forms — Certain Extracted Products

Every printed portion of the text of contract forms and papers attached thereto which are used for the purchase or lease of products to be extracted either from the earth or from beneath the earth shall be printed in a type style of common usage and in a type size of not less than ten […]

§ 47-50-111. Direct Molding — Unlawful Duplication of Goods

It is unlawful for any person to duplicate for the purpose of sale, any manufactured item made by another without the permission of that other person using the direct molding process described in subsection (c). It is unlawful for any person to sell an item duplicated in violation of subsection (a). The direct molding processes […]

§ 47-50-112. Contracts to Be Enforced as Written

All contracts, including, but not limited to, notes, security agreements, deeds of trust, and installment sales contracts, in writing and signed by the party to be bound, including endorsements thereon, shall be prima facie evidence that the contract contains the true intention of the parties, and shall be enforced as written; provided, that nothing herein […]

§ 47-50-114. Sales Representatives — Commissions

As used in this section: “Commission” means compensation accruing to a sales representative for payment by a principal, the rate of which is expressed as a percentage of the dollar amount of orders or sales; “Principal” means a person who: Manufactures, produces, imports, or distributes a product for wholesale; Contracts with a sales representative to […]

§ 47-50-115. Reimbursement of Federal Excise Taxes

When a contract calls for one party to reimburse the other party for the federal manufacturer’s excise tax levied by Part III of Subchapter A of Chapter 32 of the Internal Revenue Code, whether as a separate item or as part of the price, there shall exist for the party making the reimbursement a contractual […]

§ 47-50-116. References to 911 Service Restricted

It is unlawful for any individual or entity to make reference to 911 service, as authorized under title 7, chapter 86, in any advertisement if such reference is false, misleading, or deceptive. As used in this section, “advertisement” means any representation disseminated in any manner or by any means, other than by labeling, for the […]

§ 47-50-118. Refund on Purchase Price of Ticket for Cancelled Performance or Event

Upon cancellation of any performance or event for which a ticket for admission is sold, the ticketing service company that contracts to sell tickets for such event or performance at retail ticket outlets shall refund to all ticket purchasers the purchase price of the ticket plus any service fees or charges paid by the purchaser […]

§ 47-50-119. Tentative Ticket Policy — Disclosure — Violation

A reseller shall not utilize a tentative ticket policy, unless disclosed to a ticket purchaser at the outset of the transaction, under which the reseller sells tickets that are not: Owned by the reseller; Under contract or any other agreement to be transferred to the reseller; or In the reseller’s possession at the time of […]