Missouri Laws 407.850 – Definitions
As used in sections 407.850 to 407.885, the following terms mean:
(1) “Current model”, a model listed in the wholesaler’s, manufacturer’s or distributor’s current sales manual or any supplements thereto;
Terms Used In Missouri Laws 407.850
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
(2) “Current net price”, the price listed in the wholesaler’s, manufacturer’s or distributor’s price list or catalogue in effect at the time the contract is cancelled or discontinued, less any applicable trade and cash discounts;
(3) “Inventory”, equipment, implements, machinery, attachments and repair parts;
(4) “Net cost”, the price the retailer actually paid for the merchandise to the wholesaler, manufacturer or distributor, plus freight from the wholesaler’s, manufacturer’s or distributor’s location to the dealer’s location;
(5) “Retailer”, any person, firm or corporation engaged in the business of selling, repairing and retailing:
(a) Farm implements, machinery, attachments or repair parts;
(b) Industrial, maintenance and construction power equipment; or
(c) Outdoor power equipment used for lawn, garden, golf course, landscaping or grounds maintenance;
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but shall not include retailers of petroleum and motor vehicles and related automotive care and replacement products normally sold by such retailers.