Michigan Laws 445.1455 – Provisions supplemental; election of remedies; effect of electing contract remedy; charge back
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(1) The provisions of this act are supplemental to any agreement between the dealer and the supplier governing the return of inventory and the dealer may elect to pursue either a contract remedy or the remedy provided in this act. With respect to a dealer located in this state, a remedy provided for in this act shall not be limited by any agreement or contract between a supplier and a dealer.
(2) An election by the dealer to pursue a contract remedy does not bar the right of the dealer to the remedy provided in this act as to that inventory not affected by pursuit of the contract remedy.
Terms Used In Michigan Laws 445.1455
- Agreement: means a written, oral, or implied contract, sales agreement, security agreement, or franchise agreement between a supplier and a dealer by which the dealer is authorized to engage in the business of the retail sale and service, wholesale sale and service, or the distribution of tractors and equipment as an authorized outlet of the supplier or in accordance with methods and procedures provided for or prescribed by the supplier. See Michigan Laws 445.1452
- Contract: A legal written agreement that becomes binding when signed.
- Dealer: means a person engaged in the business of the retail sale of farm tractors and equipment, utility tractors and equipment, or the attachments to or repair parts for that equipment. See Michigan Laws 445.1452
- Inventory: means farm tractors, utility tractors, equipment, and accessories for attachments to and repair parts for those tractors and that equipment. See Michigan Laws 445.1452
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
- Supplier: means a manufacturer, wholesaler, or distributor of farm and utility tractors and farm and utility equipment, or the attachments to or repair parts for that equipment. See Michigan Laws 445.1452
(3) Notwithstanding anything contained in this act, the rights of a supplier to charge back to the dealer’s account amounts previously paid or credited as a discount incident to the dealer’s purchase of the inventory repurchased shall not be affected.