If a supplier fails to repurchase any inventory as required by section 1353.02 of the Revised Code, the dealer may bring a civil action to compel repurchase. If the court finds in favor of the dealer, the court shall order the supplier to repurchase the inventory at its current net price. In addition, the court shall order the supplier to pay to the dealer interest on the current net price of the inventory, computed pursuant to division (C) of section 1353.02 of the Revised Code, plus any freight charges paid by the dealer, court costs, and reasonable attorney’s fees.

Terms Used In Ohio Code 1353.04

  • Current net price: means the price listed in the supplier's price list or catalog in effect at the time the dealer agreement is terminated, less all applicable discounts. See Ohio Code 1353.01
  • Dealer: means a person engaged in the business of the retail sale of farm machinery or construction equipment under a dealer agreement, which also may include a requirement to purchase data processing hardware. See Ohio Code 1353.01
  • Inventory: means farm machinery or construction equipment held by a dealer for sale or lease and also means any data processing hardware that the supplier requires the dealer to purchase. See Ohio Code 1353.01
  • Supplier: means a manufacturer, wholesaler, or distributor of farm machinery or construction equipment to dealers under a dealer agreement who also may require the dealer to purchase data processing hardware to satisfy the minimum requirements of the dealer agreement. See Ohio Code 1353.01

  Previous section
Next section  
 Chapter 1353 Contents