If any supplier fails or refuses to repurchase and pay the retailer for any inventory covered under this part within sixty (60) days after shipment of such inventory, such supplier shall be civilly liable for one hundred percent (100%) of the current net price of the inventory, plus any freight charges paid by the retailer, the retailer's attorney fees, court costs and interest on the current net price computed at the legal interest rate from the sixty-first day after date of shipment.
Tenn. Code Ann. § 47-25-1308
Civil liability for failure to repurchase
Applied in 1 court decision — leading case 268 F. Supp. 2d 981 - Power & Telephone Supply Co., Inc. v. Harmonic, Inc. (2003)
Most recently applied in 268 F. Supp. 2d 981 - Power & Telephone Supply Co., Inc. v. Harmonic, Inc. (June 2003)
Acts 1999, ch. 193, § 9.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.