- As used in this chapter, unless the context otherwise requires:
(1) “Dealer” means any person, partnership, or corporation who is engaged in, or who intends to engage in the business of selling motor vehicles at retail in this state. “Dealer” also includes “retail agent”;
Terms Used In Tennessee Code 55-13-101
- 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.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- 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, firm, copartnership, association, corporation, or an engaged ADS. See Tennessee Code 55-8-101
- State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
- Trustee: A person or institution holding and administering property in trust.
(2) “Finance company or finance agency” means any person engaged in the business of financing the sale of motor vehicles, or engaged in the business of purchasing or acquiring promissory notes, either secured by vendor’s lien or chattel mortgage, arising from the sale of motor vehicles in this state;
(3) “Manufacturer” means any person who is engaged, either directly or indirectly, in the manufacture of motor vehicles;
(4) “Persons” means any individual, firm, corporation, partnership, association, trustee, receiver or assignee for the benefit of creditors;
(5) “Sell,” “sold,” “buy,” and “purchase” include exchange, barter, gift, and offer to contract to sell or buy; and
(6) “Wholesale distributor” means any person engaged, directly or indirectly, in the sale or distribution of motor vehicles to agents or to dealers.