Tennessee Code 47-18-3101 – Part definitions
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As used in this part:
Terms Used In Tennessee Code 47-18-3101
- Authorized dealer: means an individual, corporation, or limited liability company authorized by a manufacturer or distributor to sell, barter, or exchange a particular make of new farm machinery. See Tennessee Code 47-18-3101
- Comparable farm machinery: means an identical or substantially similar replacement piece of farm machinery. See Tennessee Code 47-18-3101
- Consumer: means :
(A) A person who purchases or leases a piece of new farm machinery for purposes other than resale. See Tennessee Code 47-18-3101 - Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Distributor: means any person who sells or distributes new and unused farm machinery to authorized dealers. See Tennessee Code 47-18-3101
- Full purchase price: means the cost paid by a consumer, including any collateral charge. See Tennessee Code 47-18-3101
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Manufacturer: means a person who manufactures, assembles, or imports new farm machinery. See Tennessee Code 47-18-3101
- Nonconformity: means any defect or condition affecting a piece of farm machinery that:
(A) Does not conform with the terms of an express warranty issued by a manufacturer to a consumer. See Tennessee Code 47-18-3101 - Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means a natural person, partnership, corporation, association, trust, estate, or other legal entity. See Tennessee Code 47-18-3101
- Quality assurance period: means the earliest of the following:
(A) Twelve (12) months after the date of delivery of new farm machinery to a consumer. See Tennessee Code 47-18-3101