Definitions
This law sets up definitions for words used in rules about farm and outdoor equipment businesses. It explains what counts as a 'retailer' (a business that sells and repairs farm, construction, or lawn equipment), what 'inventory' means (equipment and repair parts), and how to figure out prices when a contract is cancelled.
407.850. Definitions. — As used in sections 407.850 to 407.885, the following terms mean:
(1) "Current model", a model listed in the 's, 's or 's current sales manual or any supplements ;
(2) "", the price listed in the wholesaler's, manufacturer's or distributor's price list or catalogue in effect at the time the contract is or discontinued, less any applicable trade and cash discounts;
(3) "", equipment, implements, machinery, attachments and ;
(4) "", the price the actually paid for the to the wholesaler, manufacturer or distributor, plus freight from the wholesaler's, manufacturer's or distributor's location to the 's location;
(5) "Retailer", any person, firm or engaged in the business of selling, repairing and retailing:
(a) Farm implements, machinery, attachments or repair parts;
(b) Industrial, and construction power equipment; or
(c) Outdoor power equipment used for lawn, garden, golf course, landscaping or grounds maintenance;
Tap any gold-underlined word to see what it means.
Red section numbers link to that law.
Source & history notes
(L. 1982 H.B. 958 § 1, A.L. 1987 S.B. 35, A.L. 2000 H.B. 1142, A.L. 2002 H.B. 1348 merged with H.B. 2008) (1991) Distributor of farm equipment violated statute by refusing to repurchase retailer's repair parts inventory upon the retailer's retirement from business. Lewis G. Moore & Co. v. Massey-Ferguson, Inc., 756 F.Supp. 424 (W.D. Mo.).
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.