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16-1001. Definitions. As used in this act:

(a) "Current model" means a model listed in the wholesaler's, manufacturer's or distributor's current sales manuals or any supplements thereto.

(b) "Current net price" means the price listed in the wholesaler's, manufacturer's or distributor's price list or catalogue in effect at the time the contract is cancelled or discontinued, less any applicable trade and cash discounts.

(c) "Net cost" means the price the retailer actually paid for the merchandise to the wholesaler, manufacturer or distributor, plus freight from the wholesaler's, manufacturer's or distributor's location to the retailer's location at carload (30,000 pounds) rates.

History: L. 1976, ch. 95, ยง 1; July 1.

CASE ANNOTATIONS

1. Franchisee's resale of parts to third party precluded recovery of statutory repurchase price. Town and Country Equipment v. Massey-Ferguson, 808 F. Supp. 779, 780 (1992).


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