Maryland Code, COMMERCIAL LAW 19-203
Terms Used In Maryland Code, COMMERCIAL LAW 19-203
- Contract: A legal written agreement that becomes binding when signed.
(1) A repair part with a limited storage life or otherwise subject to deterioration, such as a gasket or battery, except for industrial “press on” industrial pneumatic tires;
(2) A single repair part that is priced as a set of two or more items;
(3) A repair part that, because of its condition, is not resalable as a new part without repackaging or reconditioning;
(4) A repair part that is not in new, unused, and undamaged condition;
(5) An item of inventory for which a dealer does not have title free of all claims, liens, and encumbrances other than those of the supplier;
(6) Any inventory that the dealer chooses to retain;
(7) Any inventory that was ordered by the dealer after either party’s receipt of notice of termination of a franchise agreement;
(8) Any farm implements or machinery, construction, utility, or industrial equipment, outdoor power equipment, outdoor power sports equipment, or attachments that are not current models or that are not in new, unused, undamaged, complete condition, provided that equipment that is used in demonstrations or leased under § 19-202 of this subtitle shall be considered new and unused;
(9) Any farm implements or machinery, construction, utility, or industrial equipment, outdoor power equipment, outdoor power sports equipment, or attachments that were purchased more than 36 months before notice of termination of the contract; or
(10) Any inventory that was acquired by the dealer from a source other than the supplier.