Virginia Code 59.1-352.7: Uniform commercial practice
Current as of: 2023 | Check for updates
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A. This chapter does not affect a security interest of the supplier in the inventory of the dealer.
Terms Used In Virginia Code 59.1-352.7
- Dealer: means a person engaged in the business of selling at retail farm, construction, utility or industrial equipment, implements, machinery, attachments, outdoor power equipment, or repair parts. See Virginia Code 59.1-352.1
- Inventory: means farm implements and machinery, construction, utility and industrial equipment, consumer products, outdoor power equipment, attachments, or repair parts. See Virginia Code 59.1-352.1
- Supplier: means a wholesaler, manufacturer, distributor, or any purchaser of assets or stock of any surviving corporation resulting from a merger or liquidation, any receiver or assignee, or any trustee of the original manufacturer, wholesaler, or distributor who enters into an agreement with a dealer. See Virginia Code 59.1-352.1
B. The dealer and supplier shall furnish representatives to inspect all parts and certify their acceptability when packed for shipment. Failure of the supplier to provide a representative within sixty days shall result in automatic acceptance by the supplier of all returned items.