Vermont Statutes Title 9 Sec. 4081
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Terms Used In Vermont Statutes Title 9 Sec. 4081
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Dealer: means a person primarily engaged in the business of retail sales of inventory. See
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Supplier: means a wholesaler, manufacturer, or distributor of inventory who enters into a dealer agreement with a dealer. See
- Trustee: A person or institution holding and administering property in trust.
§ 4081. Obligation of successors in interest
The obligation of any supplier or dealer is applied to and made an obligation of any successor in interest or assignee of the supplier or dealer. A successor in interest includes any purchaser of the assets or stock, any surviving entity resulting from merger or liquidation, any receiver, or any trustee of the original supplier or dealer. (Added 1993, No. 113 (Adj. Sess.), § 1, eff. March 4, 1994.)