§ 75-77-1. Definitions

MS Code § 75-77-1 (2019) (N/A)

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(a) “Current model” means a model listed in the wholesaler’s, manufacturer’s or distributor’s current sales manual or any supplements thereto;

(b) “Current net price” means the price listed in the supplier’s price list or catalogue in effect at the time the contract is cancelled or discontinued, less any applicable trade and cash discounts;

(c) “Retailer” means any person, firm or corporation engaged in the business of selling and retailing farm implements, machinery, utility and industrial equipment, outdoor power equipment, all-terrain vehicles, off-road utility vehicles, attachments or repair parts and shall not include retailers of petroleum products;

(d) “Inventory” means farm implements, machinery, utility and industrial equipment, consumer products, outdoor power equipment, attachments and repair parts;

(e) “Supplier” means any manufacturer, wholesaler, wholesale distributor, or any purchaser of assets or stock of any surviving corporation resulting from a merger or liquidations, any receiver or assignee, or any trustee of the original manufacturer, wholesaler or distributor; and

(f) “Superseded parts” means any part that will provide the same function as a currently available part as of the date of cancellation.

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§ 75-77-2. Cancellation of retail agreement