Kansas Statutes > Chapter 16 > Article 10 – Contracts to Maintain Stock of Farm Equipment


§ 16-1001	Definitions
§ 16-1002	Contracts, sales agreements or security agreements to maintain stock of farm equipment or repair parts by retailer; cancellation or discontinuance thereof; repurchase obligations of wholesaler, manufacturer, distributor or transferee of such wholesaler
§ 16-1003	Repurchase not required, when
§ 16-1004	Failure to make repurchase or allow credit; liability in civil action
§ 16-1005	Death of retailer or majority stockholder of corporation retailing farm equipment or repair parts
§ 16-1006	Severability of act
§ 16-1007	Repurchase obligations in bankruptcy

Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
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.
Current net price: means 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. See Kansas Statutes 16-1001
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Net cost: means 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 retailer's location at carload (30,000 pounds) rates. See Kansas Statutes 16-1001
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.