(a) If any supplier fails or refuses to repurchase and pay the dealer for any inventory covered under this part within sixty (60) days after shipment of the inventory, the supplier shall be civilly liable for one hundred percent (100%) of the current net price of the inventory, plus any freight charges paid by the dealer, the dealer’s attorney fees, court costs and interest on the current net price computed at the legal interest rate from the sixty-first day after date of shipment.

Terms Used In Tennessee Code 47-25-1909

  • Current net price: means the price listed in the supplier's price list or catalogue in effect at the time the contract is canceled or discontinued, less any applicable trade and cash discounts. See Tennessee Code 47-25-1902
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Dealer: means any person engaged in the business of selling and retailing inventory, who enters into a retail agreement, and who, under the terms of the agreement receives inventory from the supplier. See Tennessee Code 47-25-1902
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Inventory: means motorcycles, off-road vehicles, attachments and repair parts. See Tennessee Code 47-25-1902
  • 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.
  • Retail agreement: means an agreement, including a franchise agreement that meets the requirements of a retail agreement, whether express, implied, oral, or written, between two (2) or more persons:
    (A) By which a person receives the right to:
    (i) Sell or lease inventory or services at retail or wholesale. See Tennessee Code 47-25-1902
  • Supplier: includes a:
    (A) Wholesaler. See Tennessee Code 47-25-1902
(b) A dealer may bring an action for civil damages in a court of competent jurisdiction against any supplier found violating any of the provisions of this part, and may recover damages sustained as a consequence of the supplier’s violations, together with all costs and attorneys’ fees.
(c) The dealer shall be entitled to injunctive relief against unlawful termination, cancellation, nonrenewal or substantial change of competitive circumstances of the retail agreement.
(d) The remedies in this section are in addition to any other remedies permitted by law.
  Previous section
Next section  
 Part 19 Contents