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7-2A-505
Section 7-2A-505 Cancellation and termination and effect of cancellation, termination,
rescission, or fraud on rights and remedies. (1) On cancellation of the lease contract, all
obligations that are still executory on both sides are discharged, but any right based on
prior default or performance survives, and the cancelling party also retains any remedy for
default of the whole lease contract or any unperformed balance. (2) On termination of the
lease contract, all obligations that are still executory on both sides are discharged but
any right based on prior default or performance survives. (3) Unless the contrary intention
clearly appears, expressions of "cancellation," "rescission," or the like
of the lease contract may not be construed as a renunciation or discharge of any claim in
damages for an antecedent default. (4) Rights and remedies for material misrepresentation
or fraud include all rights and remedies available under this article for default. (5) Neither
rescission nor a...
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7-2A-103
Section 7-2A-103 Definitions and index of definitions. (1) In this article unless the
context otherwise requires: (a) "Buyer in ordinary course of business" means a person
who in good faith and without knowledge that the sale to him or her is in violation of the
ownership rights or security interest or leasehold interest of a third party in the goods,
buys in ordinary course from a person in the business of selling goods of that kind but does
not include a pawnbroker. "Buying" may be for cash or by exchange of other property
or on secured or unsecured credit and includes receiving goods or documents of title under
a pre-existing contract for sale but does not include a transfer in bulk or as security for
or in total or partial satisfaction of a money debt. (b) "Cancellation" occurs when
either party puts an end to the lease contract for default by the other party. (c) "Commercial
unit" means such a unit of goods as by commercial usage is a single whole for purposes
of lease and...
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7-2A-309
Section 7-2A-309 Lessor's and lessee's rights when goods become fixtures. (1) In this
section: (a) goods are "fixtures" when they become so related to particular
real estate that an interest in them arises under real estate law; (b) a "fixture filing"
is the filing, in the office where a record of a mortgage on the real estate would be filed
or recorded, of a financing statement covering goods that are or are to become fixtures and
conforming to the requirements of Section 7-9A-502(a) and (b); (c) a lease is a "purchase
money lease" unless the lessee has possession or use of the goods or the right to possession
or use of the goods before the lease agreement is enforceable; (d) a mortgage is a "construction
mortgage" to the extent it secures an obligation incurred for the construction of an
improvement on land including the acquisition cost of the land, if the recorded writing so
indicates; and (e) "encumbrance" includes real estate mortgages and other liens
on real estate and all other...
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41-16A-5
Section 41-16A-5 Permissible contract provisions; general and limited obligation distinction
may be made; allowable pledge payment sources; classification of entity's contracting and
contracts. (a) Alternative financing contracts may be for such term, provide for such renewal
or extension options, provide for such terminating events, provide for the payment of such
rentals, purchase installments, purchase price, and other amounts, and contain such other
terms, provisions, and conditions as the governmental entity shall deem appropriate, and without
limitation to the generality of the foregoing, may contain terms and conditions substantially
similar to any one or more of the following: (1) Provisions for the automatic renewal of the
alternative financing contract for one or more successive periods unless affirmative action
is taken by the governmental entity to terminate such alternative financing contract, and,
if desired, specifying the nature of such affirmative action sufficient to...
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16-44B-1
Section 16-44B-1 Compact. ARTICLE I PURPOSE It is the purpose of this compact to remove
barriers to education success imposed on children of military families because of frequent
moves and deployment of their parents by: A. Facilitating the timely enrollment of children
of military families and ensuring that they are not placed at a disadvantage due to difficulty
in the transfer of education records from the previous school district(s) or variations in
entrance/age requirements. B. Facilitating the student placement process through which children
of military families are not disadvantaged by variations in attendance requirements, scheduling,
sequencing, grading, course content or assessment. C. Facilitating the qualification and eligibility
for enrollment, educational programs, and participation in extracurricular academic, athletic,
and social activities. D. Facilitating the on-time graduation of children of military families.
E. Providing for the promulgation and enforcement of...
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7-2A-303
Section 7-2A-303 Alienability of interests, transfer of rights, etc. (1) As used in
this section, "creation of a security interest" includes the sale of a lease
contract that is subject to Article 9A, Secured Transactions, by reason of Section
7-9A-109(a)(3). (2) Except as provided in subsection (3) and Section 7-9A-407, a provision
in a lease agreement which (i) prohibits the voluntary or involuntary transfer, including
a transfer by sale, sublease, creation, or enforcement of a security interest, or attachment,
levy, or other judicial process, of an interest of a party under the lease contract or of
the lessor's residual interest in the goods, or (ii) makes such a transfer an event of default,
gives rise to the rights and remedies provided in subsection (4), but a transfer that is prohibited
or is an event of default under the lease agreement is otherwise effective. (3) A provision
in a lease agreement which (i) prohibits a transfer of a right to damages for default with
respect to...
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7-2A-310
Section 7-2A-310 Lessor's and lessee's rights when goods become accessions. (1) Goods
are "accessions" when they are installed in or affixed to other goods. (2) The interest
of a lessor or a lessee under a lease contract entered into before the goods became accessions
is superior to all interests in the whole except as stated in subsection (4). (3) The interest
of a lessor or a lessee under a lease contract entered into at the time or after the goods
became accessions is superior to all subsequently acquired interests in the whole except as
stated in subsection (4) but is subordinate to interests in the whole existing at the time
the lease contract was made unless the holders of such interests in the whole have in writing
consented to the lease or disclaimed an interest in the goods as part of the whole. (4) The
interest of a lessor or a lessee under a lease contract described in subsection (2) or (3)
is subordinate to the interest of (a) a buyer in the ordinary course of business or a...
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8-20-4
Section 8-20-4 Unfair and deceptive trade practices. Notwithstanding the terms, provisions,
or conditions of any dealer agreement or franchise or the terms or provisions of any waiver,
prior to the termination, cancellation, or nonrenewal of any dealer agreement or franchise,
the following acts or conduct shall constitute unfair and deceptive trade practices: (1) For
any manufacturer, factory branch, factory representative, distributor, or wholesaler, distributor
branch, or distributor representative to coerce or attempt to coerce any motor vehicle dealer
to do any of the following: a. To accept, buy, or order any motor vehicle or vehicles, appliances,
equipment, parts, or accessories therefor, or any other commodity or commodities or service
or services which such motor vehicle dealer has not voluntarily ordered or requested except
items required by applicable local, state, or federal law; or to require a motor vehicle dealer
to accept, buy, order, or purchase such items in order to...
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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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15-22-1.1
Section 15-22-1.1 Interstate Compact for Adult Offender Supervision. Whereas: The Interstate
Compact for the Supervision of Parolees and Probationers was established in 1937, it is the
earliest corrections "compact" established among the states and has not been amended
since its adoption over 62 years ago; Whereas: This compact is the only vehicle for the controlled
movement of adult parolees and probationers across state lines, and it currently has jurisdiction
over more than a quarter of a million offenders; Whereas: The complexities of the compact
have become more difficult to administer, and many jurisdictions have expanded supervision
expectations to include currently unregulated practices such as victim input, victim notification
requirements, and sex offender registration; Whereas: After hearings, national surveys, and
a detailed study by a task force appointed by the National Institute of Corrections, the overwhelming
recommendation has been to amend the document to bring about...
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