Terms Used In Rhode Island General Laws > Chapter 6-54 - Rhode Island Dealership Preservation and Protection Act

• Agreement: means a written contractual agreement between the merchant and the third-party delivery service. See Rhode Island General Laws 6-58-1
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Community of interest: means a continuing financial interest between the grantor and the grantee in either the operation of the dealership business or the marketing of such goods or services. See Rhode Island General Laws 6-54-2
• Continuing financial interest: means the following:

  (i)  A dealership relationship of at least one year in duration between the grantor and dealer, without regard to:

  (A)  Any minimum percentage of revenue or profit derived therefrom by the dealer;

  (B)  Any minimum financial investment by the dealer; or

  (C)  The aggregate economic size or level of activity by the dealer or its affiliates; and

  (ii)  The dealer has expended, allocated, or dedicated revenue or personnel to promoting the sale or distribution of the grantor's goods or services, including investments in grantor inventory, sales and marketing, or facilities; and

  (iii)  Dealer and grantor cooperate, coordinate activities, or share common goals. See Rhode Island General Laws 6-54-2

• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Dealer: means a person who is a grantee of a dealership situated in this state, and any successor in interest, regardless of the subsequent sale or change in ownership of such entity. See Rhode Island General Laws 6-54-2
• Dealership: means any of the following: A contract or agreement, either expressed or implied, whether oral or written, between two (2) or more persons, by which a person is granted the right to sell or distribute goods or services, or use a trade name, trademark, service mark, logotype, advertising, or other commercial symbol, in which there is a community of interest in the business of offering, selling, or distributing goods or services at wholesale, retail, by lease, agreement, or otherwise. See Rhode Island General Laws 6-54-2
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Good cause: means , for the purposes of this act, good cause for terminating, diminishing, canceling, or nonrenewal shall mean:

  (i)  The failure by the dealer to substantially comply with the reasonable requirements imposed by the grantor; or

  (ii)  Any of the reasons listed in § 6-54-4(a)(1) through (a)(6). See Rhode Island General Laws 6-54-2

• Grantor: means a person who grants a dealership, and any successor in interest, regardless of the subsequent sale or change in ownership of such person. See Rhode Island General Laws 6-54-2
• Grantor: The person who establishes a trust and places property into it.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means a natural person, partnership, joint venture, corporation, or other entity. See Rhode Island General Laws 6-54-2
• Sale or change in ownership: means with respect to any grantor or dealer, the direct or indirect sale of such person's assets or equity ownership, whether by merger or sale or other change in control event. See Rhode Island General Laws 6-54-2
• United States: include the several states and the territories of the United States. See Rhode Island General Laws 43-3-8