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7-1-203
Section 7-1-203 Lease distinguished from security interest. (a) Whether a transaction in the
form of a lease creates a lease or security interest is determined by the facts of each case.
(b) A transaction in the form of a lease creates a security interest if the consideration
that the lessee is to pay the lessor for the right to possession and use of the goods is an
obligation for the term of the lease and is not subject to termination by the lessee, and:
(1) The original term of the lease is equal to or greater than the remaining economic life
of the goods; (2) The lessee is bound to renew the lease for the remaining economic life of
the goods or is bound to become the owner of the goods; (3) The lessee has an option to renew
the lease for the remaining economic life of the goods for no additional consideration or
for nominal additional consideration upon compliance with the lease agreement; or (4) The
lessee has an option to become the owner of the goods for no additional...
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8-19-5
Section 8-19-5 Unlawful trade practices. The following deceptive acts or practices in the conduct
of any trade or commerce are hereby declared to be unlawful: (1) Passing off goods or services
as those of another, provided that this section shall not prohibit the private labeling of
goods or services. (2) Causing confusion or misunderstanding as to the source, sponsorship,
approval, or certification of goods or services. (3) Causing confusion or misunderstanding
as to the affiliation, connection, or association with, or certification by another, provided
that this section shall not prohibit the private labeling of goods or services. (4) Using
deceptive representations or designations of geographic origin in connection with goods or
services. (5) Representing that goods or services have sponsorship, approval, characteristics,
ingredients, uses, benefits, or qualities that they do not have or that a person has sponsorship,
approval, status, affiliation, or connection that he or she does...
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5-19-1
Section 5-19-1 Definitions. For the purposes of this chapter, the following terms shall have
the following meanings respectively ascribed to them by this section: (1) FINANCE CHARGE.
The sum of all charges, payable directly or indirectly by the person to whom credit is extended,
and imposed directly or indirectly by the creditor as an incident to the extension of credit.
The amount of the finance charge in connection with any credit transaction (i) shall be determined,
and shall include and exclude the fees and charges, as provided by Section 106 of the Federal
Truth-in-Lending Act, 15 U.S.C. Section 1605 and the regulations of the Federal Reserve Board
promulgated pursuant to the Federal Truth-in-Lending Act, 12 C.F.R. Part 226, and the Official
Staff Commentary adopted by the Federal Reserve Board pursuant to that regulation, and without
limiting or affecting the foregoing subparagraph (i), (ii) shall exclude, without limitation,
late charges and other charges resulting from or...
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27-17A-2
Section 27-17A-2 Definitions. As used in this chapter, the following terms shall have the following
meanings: (1) ALTERNATIVE CONTAINER. A nonmetal receptacle or enclosure, without ornamentation
or a fixed interior lining, which is designed for the encasement of human remains and which
is made of cardboard, pressed-wood, composition materials (with or without an outside covering),
or pouches of canvas or other materials. (2) ARRANGEMENT CONFERENCE. The meeting occurring
either at need or preneed between the seller and the purchaser during which funeral or cemetery
merchandise and services are discussed. (3) ARRANGEMENT CONFERENCE FEE. The charge to the
purchaser in conjunction with the arrangement conference. (4) AT NEED. At the time of death,
or immediately following death. (5) AUTHORIZING AGENT. One who is lawfully authorized to control
the final disposition of human remains. (6) BELOW-GROUND CRYPT. A preplaced enclosed chamber,
which is usually constructed of reinforced concrete,...
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40-29-22
Section 40-29-22 Lien for taxes - Validity and priority against certain persons. (a) Purchasers,
holders of security interests, mechanic's lienors, and judgment lien creditors. The lien imposed
by Section 40-29-20 shall not be valid as against any purchaser, holder of a security interest,
mechanic's lienor, or judgment lien creditor until notice thereof which meets the requirements
of subsection (f) has been filed by the Commissioner of Revenue or his delegate, and shall
not be perfected as against any purchaser, holder of a security interest, mechanic's lienor,
or judgment lien creditor until the date such notice is filed. (b) Protection for certain
interest even though notice filed. Even though notice of a lien imposed by Section 40-29-20
has been filed, such lien shall not be valid: (1) SECURITIES. With respect to a security (as
defined in subsection (g)(4)): a. As against a purchaser of such security who at the time
of purchase did not have actual notice or knowledge of the...
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37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state, shall
execute a compact, in substantially the following form, with the State of Mississippi, and
the Legislature approves and ratifies the compact in the form substantially as follows: Northeast
Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states solemnly
agree: Article I. The purpose of this compact is to promote and develop trade, commerce, industry,
and employment opportunities for the public good and welfare in northeast Mississippi and
northwest Alabama through the establishment of a joint interstate authority to acquire certain
railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
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11-51-90
Section 11-51-90 Municipal business licenses; branch offices; application. (a) All municipalities
shall have the following powers: (1) To license any exhibition, trade, business, vocation,
occupation, or profession not prohibited by the Constitution or laws of the state which may
be engaged in or carried on in the municipality. (2) To fix the amount of licenses, the time
for which they are to run, not exceeding one license year, to provide a penalty for doing
business without a license, and to charge a fee not exceeding ten dollars ($10) for issuing
each license. The issuance fee shall be increased every five license years by the Department
of Revenue by an amount equal to the percentage increase, if any, in the U.S. Department of
Labor's Producer Price Index during that five-year period, rounded to the nearest dollar,
with the base year being 2006. The Department of Revenue shall notify all municipalities and
the Alabama League of Municipalities of any such fee increase no later than...
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7-2-504
Section 7-2-504 Shipment by seller. Where the seller is required or authorized to send the
goods to the buyer and the contract does not require him to deliver them at a particular destination,
then unless otherwise agreed he must: (a) Put the goods in the possession of such a carrier
and make such a contract for their transportation as may be reasonable having regard to the
nature of the goods and other circumstances of the case; and (b) Obtain and promptly deliver
or tender in due form any document necessary to enable the buyer to obtain possession of the
goods or otherwise required by the agreement or by usage of trade; and (c) Promptly notify
the buyer of the shipment. Failure to notify the buyer under paragraph (c) or to make a proper
contract under paragraph (a) is a ground for rejection only if material delay or loss ensues.
(Acts 1965, No. 549, p. 811.)...
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7-2-502
Section 7-2-502 Buyer's right to goods. (1) Subject to subsections (2) and (3) and even though
the goods have not been shipped a buyer who has paid a part or all of the price of goods in
which he has a special property under the provisions of Section 7-2-501 may on making and
keeping good a tender of any unpaid portion of their price recover them from the seller if:
(a) in the case of goods bought for personal, family, or household purposes, the seller repudiates
or fails to deliver as required by the contract; or (b) in all cases, the seller becomes insolvent
within 10 days after receipt of the first installment on their price. (2) The buyer's right
to recover the goods under subsection (1)(a) vests upon acquisition of a special property,
even if the seller had not then repudiated or failed to deliver. (3) If the identification
creating his special property has been made by the buyer he acquires the right to recover
the goods only if they conform to the contract for sale. (Acts 1965,...
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7-2-711
Section 7-2-711 Buyer's remedies in general; buyer's security interest in rejected goods. (1)
Where the seller fails to make delivery or repudiates or the buyer rightfully rejects or justifiably
revokes acceptance, then with respect to any goods involved, and with respect to the whole
if the breach goes to the whole contract (Section 7-2-612), the buyer may cancel, and whether
or not he has done so may, in addition to recovering so much of the price as has been paid:
(a) "Cover" and have damages under Section 7-2-712 as to all the goods affected
whether or not they have been identified to the contract; or (b) Recover damages for nondelivery
as provided in this article (Section 7-2-713). (2) Where the seller fails to deliver or repudiates
the buyer may also: (a) If the goods have been identified recover them as provided in this
article (Section 7-2-502); or (b) In a proper case obtain specific performance or replevy
the goods as provided in this article (Section 7-2-716). (3) On...
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