Whenever any retailer enters into an agreement, evidenced by a written or oral contract, with a supplier wherein the retailer agrees to maintain an inventory of parts and to provide service and the contract is terminated, then the supplier shall repurchase the inventory as provided in this chapter. The retailer may keep the inventory if he desires. If the retailer has any outstanding debts to the supplier, then the repurchase amount may be setoff or credited to the retailer’s account.
Miss. Code Ann. § 75-77-3
Supplier shall repurchase inventory maintained by retailer upon termination of contract
Applied in 2 court decisions — leading case Dunkin' Donuts of America, Inc. v. Middletown Donut Corp. (1985)
Most recently applied in Chrisman Manufacturing, Inc. v. Rowan-Cornil, Inc. (March 2012)
Laws, 1977, ch. 419, § 2; Laws, 1997, ch. 318, § 3, eff from and after July 1, 1997.
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.