Missouri Laws 301.452 – Rental price adjustment of motor vehicle or trailer based on amount of sale ..
Current as of: 2023 | Check for updates
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Terms Used In Missouri Laws 301.452
- Motor vehicle: any self-propelled vehicle not operated exclusively upon tracks, except farm tractors and electric bicycles. See Missouri Laws 301.010
- Trailer: any vehicle without motive power designed for carrying property or passengers on its own structure and for being drawn by a self-propelled vehicle, except those running exclusively on tracks, including a semitrailer or vehicle of the trailer type so designed and used in conjunction with a self-propelled vehicle that a considerable part of its own weight rests upon and is carried by the towing vehicle. See Missouri Laws 301.010
In the case of motor vehicles or trailers as those terms are defined in section 301.010, notwithstanding any other law to the contrary, a transaction does not create a sale or security interest merely because it provides that the rental price is permitted or required to be adjusted under the agreement either upward or downward by reference to the amount realized upon sale or other disposition of the motor vehicle or trailer.