For the purposes of this chapter the following words and phrases have the following meanings unless the context otherwise requires: “Current model” means a model listed in the wholesaler’s, manufacturer’s or distributor’s current sales manual or any supplements thereto; “Current net price” means the price listed in the supplier’s price list or catalogue in effect […]
If any supplier shall fail or refuse to repurchase and pay the retailer for any inventory covered under the provisions of this chapter within sixty (60) days after shipment of such inventory, he shall be civilly liable for one hundred percent (100%) of the current net price of the inventory, plus any freight charges paid […]
In the event of the death of the retailer or the majority stockholder of a corporation operating as a retailer, the supplier shall, at the option of the heir or heirs, repurchase the inventory from the heir or heirs of the retailer or majority stockholder as if the supplier had terminated the contract. The heir […]
The provisions of this chapter shall not be construed to affect in any way any security interest which the supplier may have in the inventory of the retailer, and any repurchase hereunder shall not be subject to the provisions of the bulk sales law. The retailer and supplier shall furnish representatives to inspect all parts […]
A retailer may bring an action for civil damages in a court of competent jurisdiction against any supplier found violating any of the provisions of Sections 75-77-1 through 75-77-15, Mississippi Code of 1972, and may recover damages sustained as a consequence of the supplier’s violations together with all costs and attorney fees. The retailer shall […]
The provisions of this chapter shall apply to all contracts and shall apply to all retail agreements in effect which have no expiration date and are a continuing contract, and shall apply to all other contracts entered into, amended, extended, ratified or renewed after March 30, 1977. The provisions of this chapter shall apply to […]
Except as otherwise provided in Section 75-77-6, the provisions of this chapter shall not be waivable in any contract, and any such attempted waiver shall be null and void. If any provision or item of this chapter or the application thereof is held invalid, it shall not affect other provisions, items or applications of this […]
No supplier, directly or through an officer, agent or employee, may terminate, cancel, fail to renew or substantially change the competitive circumstances of a retail agreement without good cause. “Good cause” shall mean failure by a retailer to comply with requirements imposed upon the retailer by the retail agreement if such requirements are not different […]
Whenever any retailer enters into an agreement, evidenced by a written or oral contract, with a supplier wherein the retailer agrees to maintain an inventory of parts and to provide service and the contract is terminated, then the supplier shall repurchase the inventory as provided in this chapter. The retailer may keep the inventory if […]
No supplier shall: Coerce any retailer to accept delivery of equipment, parts or accessories which the retailer has not ordered voluntarily, except as required by any applicable law, or unless parts or accessories are safety parts or accessories required by a supplier; Condition the sale of additional equipment to a retailer on a requirement that […]
The supplier shall repurchase that inventory previously purchased from him and held by the retailer on the date of termination of the contract. The supplier shall pay one hundred percent (100%) of the current net price of all new, unsold, undamaged and complete farm implements, machinery, utility and industrial equipment, outdoor power equipment and attachments, […]
This section applies to a warranty claim submitted by a retailer: Claims filed for payment under warranty agreements shall either be approved or disapproved within thirty (30) days of receipt by the supplier. All claims for payment shall be paid within thirty (30) days of their approval. When any such claim is disapproved, the supplier […]
Upon payment of the repurchase amount to the retailer, the title and right of possession to the repurchased inventory shall transfer to the supplier. Annually, at the end of each calendar year, after termination or cancellation, the retailer’s reserve account for recourse, retail sale or lease contracts shall not be debited by a supplier or […]
The provisions of this chapter shall not require the repurchase from a retailer of: Any repair part which, because of its condition, is not resalable as a new part; Any inventory which the retailer desires to keep, provided the retailer has a contractual right to do so; Any farm implements, machinery, utility and industrial equipment, […]
