Tenn. Code Ann. § 47-3-602 — TN Code / Title 47 / Chapter 3 / Section 47-3-602
Payment
Status: in_force

(a) Subject to subsection (b), an instrument is paid to the extent payment is made (i) by or on behalf of a party obliged to pay the instrument, and (ii) to a person entitled to enforce the instrument. To the extent of the payment, the obligation of the party obliged to pay the instrument is discharged even though payment is made with knowledge of a claim to the instrument under § 47-3-306 by another person. (b) The obligation of a party to pay the instrument is not discharged under subsection (a) if: (1) a claim to the instrument under § 47-3-306 is enforceable against the party receiving payment and (i) payment is made with knowledge by the payor that payment is prohibited by injunction or similar process of a court of competent jurisdiction, or (ii) in the case of an instrument other than a cashier's check, teller's check, or certified check, the party making payment accepted, from the person having a claim to the instrument, indemnity against loss resulting from refusal to pay the person entitled to enforce the instrument; or (2) the person making payment knows that the instrument is a stolen instrument and pays a person it knows is in wrongful possession of the instrument. Acts 1995, ch. 397, § 2.
(a) Subject to subsection (b), an instrument is paid to the extent payment is made (i) by or on behalf of a party obliged to pay the instrument, and (ii) to a person entitled to enforce the instrument. To the extent of the payment, the obligation of the party obliged to pay the instrument is discharged even though payment is made with knowledge of a claim to the instrument under § 47-3-306 by another person.
(b) The obligation of a party to pay the instrument is not discharged under subsection (a) if: (1) a claim to the instrument under § 47-3-306 is enforceable against the party receiving payment and (i) payment is made with knowledge by the payor that payment is prohibited by injunction or similar process of a court of competent jurisdiction, or (ii) in the case of an instrument other than a cashier's check, teller's check, or certified check, the party making payment accepted, from the person having a claim to the instrument, indemnity against loss resulting from refusal to pay the person entitled to enforce the instrument; or (2) the person making payment knows that the instrument is a stolen instrument and pays a person it knows is in wrongful possession of the instrument.
(1) a claim to the instrument under § 47-3-306 is enforceable against the party receiving payment and (i) payment is made with knowledge by the payor that payment is prohibited by injunction or similar process of a court of competent jurisdiction, or (ii) in the case of an instrument other than a cashier's check, teller's check, or certified check, the party making payment accepted, from the person having a claim to the instrument, indemnity against loss resulting from refusal to pay the person entitled to enforce the instrument; or
(2) the person making payment knows that the instrument is a stolen instrument and pays a person it knows is in wrongful possession of the instrument.
Acts 1995, ch. 397, § 2.
Tenn. Code Ann. § 47-25-1603 — TN Code / Title 47 / Chapter 25 / Section 47-25-1603
Record maintenance
Status: in_force

The record of each purchase transaction provided for in this part shall be maintained for a period of not less than two (2) years. Acts 1998, ch. 884, § 2.
The record of each purchase transaction provided for in this part shall be maintained for a period of not less than two (2) years.
Acts 1998, ch. 884, § 2.
Tenn. Code Ann. § 47-14-124 — TN Code / Title 47 / Chapter 14 / Section 47-14-124
Rates fixed by other statutes
Status: in_force

Where any existing statute of this state fixes a rate of interest, but does not do so in terms of a maximum effective rate, the rate so fixed shall be the maximum effective rate for obligations covered thereby. Acts 1979, ch. 203, § 23.
Where any existing statute of this state fixes a rate of interest, but does not do so in terms of a maximum effective rate, the rate so fixed shall be the maximum effective rate for obligations covered thereby.
Acts 1979, ch. 203, § 23.
Tenn. Code Ann. § 47-30-114 — TN Code / Title 47 / Chapter 30 / Section 47-30-114
Future advances - Exemption from other law
Status: in_force

(a) A reverse mortgage may provide that it secures not only existing indebtedness or advances made contemporaneously with the execution thereof, but also future advances, whether obligatory or optional, or both, and whether made under open-end credit agreements or otherwise, to the same extent as if such future advances were made contemporaneously with the execution of the mortgage, even though no advance is made at the time of the execution of the mortgage and even though no indebtedness is outstanding at the time any advance is made. (b) All advances made under a reverse mortgage, whether obligatory or optional, relate back to the time of the recording of the mortgage, and are prior and superior to subsequent encumbrances and conveyances, if made in accordance with this chapter. (c) All reverse mortgages, in order to have the priority provided in this section, must contain a statement or notice essentially equivalent to that set forth in § 47-30-102 . (d) A reverse mortgage or reverse mortgage loan made in accordance with this chapter is exempt from chapter 28 of this title. Acts 1993, ch. 410, § 15.
(a) A reverse mortgage may provide that it secures not only existing indebtedness or advances made contemporaneously with the execution thereof, but also future advances, whether obligatory or optional, or both, and whether made under open-end credit agreements or otherwise, to the same extent as if such future advances were made contemporaneously with the execution of the mortgage, even though no advance is made at the time of the execution of the mortgage and even though no indebtedness is outstanding at the time any advance is made.
(b) All advances made under a reverse mortgage, whether obligatory or optional, relate back to the time of the recording of the mortgage, and are prior and superior to subsequent encumbrances and conveyances, if made in accordance with this chapter.
(c) All reverse mortgages, in order to have the priority provided in this section, must contain a statement or notice essentially equivalent to that set forth in § 47-30-102 .
(d) A reverse mortgage or reverse mortgage loan made in accordance with this chapter is exempt from chapter 28 of this title.
Acts 1993, ch. 410, § 15.
Tenn. Code Ann. § 47-25-1901 — TN Code / Title 47 / Chapter 25 / Section 47-25-1901
Short title
Status: in_force

This part shall be known and may be cited as the "Motorcycle and Off-Road Vehicle Dealer Fairness Act." Acts 2007, ch. 188, § 2.
This part shall be known and may be cited as the "Motorcycle and Off-Road Vehicle Dealer Fairness Act."
Acts 2007, ch. 188, § 2.
Tenn. Code Ann. § 47-25-101 — TN Code / Title 47 / Chapter 25 / Section 47-25-101
Agreements in restraint of trade
Status: in_force

All arrangements, contracts, agreements, trusts, or combinations between persons or corporations made with a view to lessen, or which tend to lessen, full and free competition in trade or commerce affecting this state, and all arrangements, contracts, agreements, trusts, or combinations between persons or corporations designed or which tend to advance, reduce, or control the price or the cost to the producer or the consumer of any product or service in trade or commerce affecting this state, are declared to be against public policy, unlawful, and void. Amended by 2024 Tenn. Acts, ch. 776,s 1, eff. 4/23/2024. Acts 1891, ch. 218, § 1; 1903, ch. 140, § 1; Shan., § 3185; Code 1932, § 5880; T.C.A. (orig. ed.), § 69-101.
All arrangements, contracts, agreements, trusts, or combinations between persons or corporations made with a view to lessen, or which tend to lessen, full and free competition in trade or commerce affecting this state, and all arrangements, contracts, agreements, trusts, or combinations between persons or corporations designed or which tend to advance, reduce, or control the price or the cost to the producer or the consumer of any product or service in trade or commerce affecting this state, are declared to be against public policy, unlawful, and void.
Amended by 2024 Tenn. Acts, ch. 776,s 1, eff. 4/23/2024.
Acts 1891, ch. 218, § 1; 1903, ch. 140, § 1; Shan., § 3185; Code 1932, § 5880; T.C.A. (orig. ed.), § 69-101.
Tenn. Code Ann. § 47-26-707 — TN Code / Title 47 / Chapter 26 / Section 47-26-707
Use of untested devices
Status: in_force

No person shall use or cause to be used any grain moisture-measuring device which has not been inspected and approved for use by the department; except that a newly purchased grain moisture-measuring device may be used prior to regular inspection and approval if the user of such device has given at least ten (10) days' notice to the department of the purchase prior to the use of such new device. Acts 1977, ch. 138, § 7; T.C.A., § 71-707.
No person shall use or cause to be used any grain moisture-measuring device which has not been inspected and approved for use by the department; except that a newly purchased grain moisture-measuring device may be used prior to regular inspection and approval if the user of such device has given at least ten (10) days' notice to the department of the purchase prior to the use of such new device.
Acts 1977, ch. 138, § 7; T.C.A., § 71-707.
Tenn. Code Ann. § 47-25-1905 — TN Code / Title 47 / Chapter 25 / Section 47-25-1905
Prohibited supplier actions
Status: in_force

No supplier shall: (1) Coerce any dealer to accept delivery of inventory, parts or accessories that the dealer has not ordered voluntarily, except as required by any applicable law, or unless parts or accessories are safety parts or accessories required by the supplier; (2) Condition the sale of additional inventory to a dealer upon a requirement that the dealer also purchase other goods or services, except that a supplier may require the dealer to purchase those parts reasonably necessary to maintain the quality of operation in the field of the inventory used in the trade area; (3) Coerce a dealer into refusing to purchase inventory manufactured by another supplier; or (4) Terminate, cancel or fail to renew or substantially change the competitive circumstances of the retail agreement based on the results of a natural disaster, including a sustained drought or high unemployment in the dealership market area, labor dispute or other similar circumstances beyond the dealer's control. Acts 2007, ch. 188, § 6.
No supplier shall:
(1) Coerce any dealer to accept delivery of inventory, parts or accessories that the dealer has not ordered voluntarily, except as required by any applicable law, or unless parts or accessories are safety parts or accessories required by the supplier;
(2) Condition the sale of additional inventory to a dealer upon a requirement that the dealer also purchase other goods or services, except that a supplier may require the dealer to purchase those parts reasonably necessary to maintain the quality of operation in the field of the inventory used in the trade area;
(3) Coerce a dealer into refusing to purchase inventory manufactured by another supplier; or
(4) Terminate, cancel or fail to renew or substantially change the competitive circumstances of the retail agreement based on the results of a natural disaster, including a sustained drought or high unemployment in the dealership market area, labor dispute or other similar circumstances beyond the dealer's control.
Acts 2007, ch. 188, § 6.
Tenn. Code Ann. § 47-4a-405 — TN Code / Title 47 / Chapter 4a / Section 47-4a-405
2024 Tennessee Code Title 47 - COMMERCIAL INSTRUMENTS AND TRANSACTIONS (§§ 47-1-101 — 47-50-121) Chapter 4A - FUNDS TRANSFERS (§§ 47-4A-101 — 47-4A-507) Part 4 - PAYMENT (§§ 47-4A-401 — 47-4A-406) Section 47-4A-405 - Payment by beneficiary's bank to beneficiary
Status: in_force

(a) If the beneficiary's bank credits an account of the beneficiary of a payment order, payment of the bank's obligation under § 47-4A-404(a) occurs when and to the extent: (i) The beneficiary is notified of the right to withdraw the credit; (ii) The bank lawfully applies the credit to a debt of the beneficiary; or (iii) Funds with respect to the order are otherwise made available to the beneficiary by the bank. (b) If the beneficiary's bank does not credit an account of the beneficiary of a payment order, the time when payment of the bank's obligation under § 47-4A-404(a) occurs is governed by principles of law that determine when an obligation is satisfied. (c) Except as stated in subsections (d) and (e), if the beneficiary's bank pays the beneficiary of a payment order under a condition to payment or agreement of the beneficiary giving the bank the right to recover payment from the beneficiary if the bank does not receive payment of the order, the condition to payment or agreement is not enforceable. (d) A funds-transfer system rule may provide that payments made to beneficiaries of funds transfers made through the system are provisional until receipt of payment by the beneficiary's bank of the payment order it accepted. A beneficiary's bank that makes a payment that is provisional under the rule is entitled to refund from the beneficiary if: (i) The rule requires that both the beneficiary and the originator be given notice of the provisional nature of the payment before the funds transfer is initiated; (ii) The beneficiary, the beneficiary's bank and the originator's bank agreed to be bound by the rule; and (iii) The beneficiary's bank did not receive payment of the payment order that it accepted. If the beneficiary is obliged to refund payment to the beneficiary's bank, acceptance of the payment order by the beneficiary's bank is nullified and no payment by the originator of the funds transfer to the beneficiary occurs under § 47-4A-406 . (e) This subsection applies to a funds transfer that includes a payment order transmitted over a funds-transfer system that (i) nets obligations multilaterally among participants, and (ii) has in effect a loss-sharing agreement among participants for the purpose of providing funds necessary to complete settlement of the obligations of one (1) or more participants that do not meet their settlement obligations. If the beneficiary's bank in the funds transfer accepts a payment order and the system fails to complete settlement pursuant to its rules with respect to any payment order in the funds transfer, (i) the acceptance by the beneficiary's bank is nullified and no person has any right or obligation based on the acceptance, (ii) the beneficiary's bank is entitled to recover payment from the beneficiary, (iii) no payment by the originator to the beneficiary occurs under § 47-4A-406 , and (iv) subject to § 47-4A-402(e) , each sender in the funds transfer is excused from its obligation to pay its payment order under § 47-4A-402(c) because the funds transfer has not been completed. Acts 1991, ch. 52, § 1.
(a) If the beneficiary's bank credits an account of the beneficiary of a payment order, payment of the bank's obligation under § 47-4A-404(a) occurs when and to the extent: (i) The beneficiary is notified of the right to withdraw the credit; (ii) The bank lawfully applies the credit to a debt of the beneficiary; or (iii) Funds with respect to the order are otherwise made available to the beneficiary by the bank.
(i) The beneficiary is notified of the right to withdraw the credit;
(ii) The bank lawfully applies the credit to a debt of the beneficiary; or
(iii) Funds with respect to the order are otherwise made available to the beneficiary by the bank.
(b) If the beneficiary's bank does not credit an account of the beneficiary of a payment order, the time when payment of the bank's obligation under § 47-4A-404(a) occurs is governed by principles of law that determine when an obligation is satisfied.
(c) Except as stated in subsections (d) and (e), if the beneficiary's bank pays the beneficiary of a payment order under a condition to payment or agreement of the beneficiary giving the bank the right to recover payment from the beneficiary if the bank does not receive payment of the order, the condition to payment or agreement is not enforceable.
(d) A funds-transfer system rule may provide that payments made to beneficiaries of funds transfers made through the system are provisional until receipt of payment by the beneficiary's bank of the payment order it accepted. A beneficiary's bank that makes a payment that is provisional under the rule is entitled to refund from the beneficiary if: (i) The rule requires that both the beneficiary and the originator be given notice of the provisional nature of the payment before the funds transfer is initiated; (ii) The beneficiary, the beneficiary's bank and the originator's bank agreed to be bound by the rule; and (iii) The beneficiary's bank did not receive payment of the payment order that it accepted. If the beneficiary is obliged to refund payment to the beneficiary's bank, acceptance of the payment order by the beneficiary's bank is nullified and no payment by the originator of the funds transfer to the beneficiary occurs under § 47-4A-406 .
(i) The rule requires that both the beneficiary and the originator be given notice of the provisional nature of the payment before the funds transfer is initiated;
(ii) The beneficiary, the beneficiary's bank and the originator's bank agreed to be bound by the rule; and
(iii) The beneficiary's bank did not receive payment of the payment order that it accepted. If the beneficiary is obliged to refund payment to the beneficiary's bank, acceptance of the payment order by the beneficiary's bank is nullified and no payment by the originator of the funds transfer to the beneficiary occurs under § 47-4A-406 .
If the beneficiary is obliged to refund payment to the beneficiary's bank, acceptance of the payment order by the beneficiary's bank is nullified and no payment by the originator of the funds transfer to the beneficiary occurs under § 47-4A-406 .
(e) This subsection applies to a funds transfer that includes a payment order transmitted over a funds-transfer system that (i) nets obligations multilaterally among participants, and (ii) has in effect a loss-sharing agreement among participants for the purpose of providing funds necessary to complete settlement of the obligations of one (1) or more participants that do not meet their settlement obligations. If the beneficiary's bank in the funds transfer accepts a payment order and the system fails to complete settlement pursuant to its rules with respect to any payment order in the funds transfer, (i) the acceptance by the beneficiary's bank is nullified and no person has any right or obligation based on the acceptance, (ii) the beneficiary's bank is entitled to recover payment from the beneficiary, (iii) no payment by the originator to the beneficiary occurs under § 47-4A-406 , and (iv) subject to § 47-4A-402(e) , each sender in the funds transfer is excused from its obligation to pay its payment order under § 47-4A-402(c) because the funds transfer has not been completed.
Acts 1991, ch. 52, § 1.
Tenn. Code Ann. § 47-3-410 — TN Code / Title 47 / Chapter 3 / Section 47-3-410
Acceptance varying draft
Status: in_force

(a) If the terms of a drawee's acceptance vary from the terms of the draft as presented, the holder may refuse the acceptance and treat the draft as dishonored. In that case, the drawee may cancel the acceptance. (b) The terms of a draft are not varied by an acceptance to pay at a particular bank or place in the United States, unless the acceptance states that the draft is to be paid only at that bank or place. (c) If the holder assents to an acceptance varying the terms of a draft, the obligation of each drawer and endorser that does not expressly assent to the acceptance is discharged. Acts 1995, ch. 397, § 2.
(a) If the terms of a drawee's acceptance vary from the terms of the draft as presented, the holder may refuse the acceptance and treat the draft as dishonored. In that case, the drawee may cancel the acceptance.
(b) The terms of a draft are not varied by an acceptance to pay at a particular bank or place in the United States, unless the acceptance states that the draft is to be paid only at that bank or place.
(c) If the holder assents to an acceptance varying the terms of a draft, the obligation of each drawer and endorser that does not expressly assent to the acceptance is discharged.
Acts 1995, ch. 397, § 2.
Tenn. Code Ann. § 47-7-306 — TN Code / Title 47 / Chapter 7 / Section 47-7-306
Altered bills of lading
Status: in_force

An unauthorized alteration or filling in of a blank in a bill of lading leaves the bill enforceable according to its original tenor. Acts 2008, ch. 814, § 1.
An unauthorized alteration or filling in of a blank in a bill of lading leaves the bill enforceable according to its original tenor.
Acts 2008, ch. 814, § 1.
Tenn. Code Ann. § 47-30-102 — TN Code / Title 47 / Chapter 30 / Section 47-30-102
Chapter definitions
Status: in_force

As used in this chapter, unless the context otherwise requires: (1) "Authorized lender" or "lender" means: (A) A bank, savings and loan association, savings bank, savings institution, or credit union chartered under the laws of the United States or of Tennessee; (B) The Tennessee housing development agency (THDA); provided, that such agency has authority by THDA board resolution to issue mortgages under this chapter; or (C) Any other person authorized to make home equity conversion loans by the commissioner of financial institutions; (2) "Borrower" means a natural person who occupies and owns in fee simple individually, or with another borrower as tenants by the entireties or as joint tenants with right of survivorship, an interest in residential real property securing a reverse mortgage loan, and who borrows money under a reverse mortgage loan; (3) "Commissioner" means the commissioner of financial institutions; (4) "Counselor" means either: (A) An individual who has completed a training curriculum on reverse mortgage counseling provided or approved by HUD and whose name is maintained on HUD's list of approved reverse mortgage counselors; or (B) A person or entity qualified under Fannie Mae guidelines to serve as a counselor in consumer education; (5) "Equity share" means any compensation, in addition to interest that has accrued on the outstanding balance, that the borrower has paid or agrees to pay to the lender at maturity of a reverse mortgage loan, which is equal to a percentage of the value of the property securing a reverse mortgage loan at maturity; (6) "Fannie Mae" means The Federal National Mortgage Association, a corporation organized and existing under the laws of the United States; (7) "Fannie Mae Reverse Mortgage Loan" means any reverse mortgage loan which complies with Fannie Mae guidelines and is purchased or securitized by Fannie Mae including a Home Keeper Mortgage Loan; (8) "Home equity conversion mortgage loan" means a loan for a definite or indefinite term: (A) Secured by a first mortgage or first deed of trust on the principal residence of the mortgagor; (B) The proceeds of which are disbursed to the mortgagor in one (1) or more lump sums, or in equal or unequal installments, either directly by the lender or the lender's agent; (C) That requires no repayment until a future time, upon the earliest occurrence of one (1) or more events specified in the reverse mortgage loan contract; and (D) Is labeled clearly on the face of the note and deed of trust or mortgage, if a HUD Loan, "This is a Home Equity Conversion Mortgage Loan pursuant to Tennessee Code Annotated, Title 47, Chapter 30," or, if it is a Fannie Mae Reverse Mortgage Loan, contains on the face of the note and deed of trust or mortgage the words "Home Keeper Mortgage" or "Fannie Mae Reverse Mortgage," pursuant to this chapter; (9) "HUD" means the United States department of housing and urban development; (10) "Outstanding balance" means the current net amount of money owed by the borrower to the lender, calculated in accordance with § 47-30-106 , whether or not the sum is suspended under the terms of the reverse mortgage loan agreement or is immediately due and payable; (11) "Reverse mortgage" means a mortgage or deed of trust securing a home equity conversion loan or reverse mortgage loan; (12) "Reverse mortgage loan" means a home equity conversion mortgage loan issued under the terms of this chapter; (13) "Securitized" means converting mortgages or deeds of trust into securities that may be purchased by investors; (14) "Shared appreciation" means an agreement by the lender and the borrower that, in addition to any interest accruing on the outstanding balance of a reverse mortgage loan, the lender may collect an additional amount equal to a percentage of any net appreciated value of the property during the term of the reverse mortgage loan; and (15) "Total annual percentage rate" means the annual average rate of interest, which provides the total amount owed at loan maturity when this rate is applied to the loan advances, excluding closing costs not paid to third parties, over the term of the reverse mortgage loan. Acts 1993, ch. 410, §3; 1997 , ch. 286, §§ 1- 3.
As used in this chapter, unless the context otherwise requires:
(1) "Authorized lender" or "lender" means: (A) A bank, savings and loan association, savings bank, savings institution, or credit union chartered under the laws of the United States or of Tennessee; (B) The Tennessee housing development agency (THDA); provided, that such agency has authority by THDA board resolution to issue mortgages under this chapter; or (C) Any other person authorized to make home equity conversion loans by the commissioner of financial institutions;
(A) A bank, savings and loan association, savings bank, savings institution, or credit union chartered under the laws of the United States or of Tennessee;
(B) The Tennessee housing development agency (THDA); provided, that such agency has authority by THDA board resolution to issue mortgages under this chapter; or
(C) Any other person authorized to make home equity conversion loans by the commissioner of financial institutions;
(2) "Borrower" means a natural person who occupies and owns in fee simple individually, or with another borrower as tenants by the entireties or as joint tenants with right of survivorship, an interest in residential real property securing a reverse mortgage loan, and who borrows money under a reverse mortgage loan;
(3) "Commissioner" means the commissioner of financial institutions;
(4) "Counselor" means either: (A) An individual who has completed a training curriculum on reverse mortgage counseling provided or approved by HUD and whose name is maintained on HUD's list of approved reverse mortgage counselors; or (B) A person or entity qualified under Fannie Mae guidelines to serve as a counselor in consumer education;
(A) An individual who has completed a training curriculum on reverse mortgage counseling provided or approved by HUD and whose name is maintained on HUD's list of approved reverse mortgage counselors; or
(B) A person or entity qualified under Fannie Mae guidelines to serve as a counselor in consumer education;
(5) "Equity share" means any compensation, in addition to interest that has accrued on the outstanding balance, that the borrower has paid or agrees to pay to the lender at maturity of a reverse mortgage loan, which is equal to a percentage of the value of the property securing a reverse mortgage loan at maturity;
(6) "Fannie Mae" means The Federal National Mortgage Association, a corporation organized and existing under the laws of the United States;
(7) "Fannie Mae Reverse Mortgage Loan" means any reverse mortgage loan which complies with Fannie Mae guidelines and is purchased or securitized by Fannie Mae including a Home Keeper Mortgage Loan;
(8) "Home equity conversion mortgage loan" means a loan for a definite or indefinite term: (A) Secured by a first mortgage or first deed of trust on the principal residence of the mortgagor; (B) The proceeds of which are disbursed to the mortgagor in one (1) or more lump sums, or in equal or unequal installments, either directly by the lender or the lender's agent; (C) That requires no repayment until a future time, upon the earliest occurrence of one (1) or more events specified in the reverse mortgage loan contract; and (D) Is labeled clearly on the face of the note and deed of trust or mortgage, if a HUD Loan, "This is a Home Equity Conversion Mortgage Loan pursuant to Tennessee Code Annotated, Title 47, Chapter 30," or, if it is a Fannie Mae Reverse Mortgage Loan, contains on the face of the note and deed of trust or mortgage the words "Home Keeper Mortgage" or "Fannie Mae Reverse Mortgage," pursuant to this chapter;
(A) Secured by a first mortgage or first deed of trust on the principal residence of the mortgagor;
(B) The proceeds of which are disbursed to the mortgagor in one (1) or more lump sums, or in equal or unequal installments, either directly by the lender or the lender's agent;
(C) That requires no repayment until a future time, upon the earliest occurrence of one (1) or more events specified in the reverse mortgage loan contract; and
(D) Is labeled clearly on the face of the note and deed of trust or mortgage, if a HUD Loan, "This is a Home Equity Conversion Mortgage Loan pursuant to Tennessee Code Annotated, Title 47, Chapter 30," or, if it is a Fannie Mae Reverse Mortgage Loan, contains on the face of the note and deed of trust or mortgage the words "Home Keeper Mortgage" or "Fannie Mae Reverse Mortgage," pursuant to this chapter;
(9) "HUD" means the United States department of housing and urban development;
(10) "Outstanding balance" means the current net amount of money owed by the borrower to the lender, calculated in accordance with § 47-30-106 , whether or not the sum is suspended under the terms of the reverse mortgage loan agreement or is immediately due and payable;
(11) "Reverse mortgage" means a mortgage or deed of trust securing a home equity conversion loan or reverse mortgage loan;
(12) "Reverse mortgage loan" means a home equity conversion mortgage loan issued under the terms of this chapter;
(13) "Securitized" means converting mortgages or deeds of trust into securities that may be purchased by investors;
(14) "Shared appreciation" means an agreement by the lender and the borrower that, in addition to any interest accruing on the outstanding balance of a reverse mortgage loan, the lender may collect an additional amount equal to a percentage of any net appreciated value of the property during the term of the reverse mortgage loan; and
(15) "Total annual percentage rate" means the annual average rate of interest, which provides the total amount owed at loan maturity when this rate is applied to the loan advances, excluding closing costs not paid to third parties, over the term of the reverse mortgage loan.
Acts 1993, ch. 410, §3; 1997 , ch. 286, §§ 1- 3.
Tenn. Code Ann. § 47-18-206 — TN Code / Title 47 / Chapter 18 / Section 47-18-206
[Repealed]
Status: repealed

Repealed by 2018 Tenn. Acts, ch. 834, s 1, eff. 4/27/2018. Acts 1980, ch. 846, § 6.
Repealed by 2018 Tenn. Acts, ch. 834, s 1, eff. 4/27/2018.
Acts 1980, ch. 846, § 6.
Tenn. Code Ann. § 47-26-812 — TN Code / Title 47 / Chapter 26 / Section 47-26-812
Gross weights for trucks and tractor trailers
Status: in_force

Gross weights for truck or tractor trailer vehicles shall be determined by axle limitations as prescribed in § 55-7-203(b)(6) , and adding an additional five hundred pounds (500 lbs.) thereto when the natural resources product is transported over a street or highway other than the portion designated as the interstate system. A three percent (3%) tolerance, over the maximum gross weight as prescribed in § 55-7-203(b)(6) , may be permitted when the natural resources product is transported over a street or public highway other than the portion designated as the interstate system. A certified public weigher will not be subject to any liability for measurement variance which falls within such three percent (3%) tolerance, but shall be responsible for measurement variance in excess of the three percent (3%) tolerance. Acts 1981, ch. 389, § 13; T.C.A., § 71-812; Acts 1994, ch. 759, §§ 1, 2.
Gross weights for truck or tractor trailer vehicles shall be determined by axle limitations as prescribed in § 55-7-203(b)(6) , and adding an additional five hundred pounds (500 lbs.) thereto when the natural resources product is transported over a street or highway other than the portion designated as the interstate system. A three percent (3%) tolerance, over the maximum gross weight as prescribed in § 55-7-203(b)(6) , may be permitted when the natural resources product is transported over a street or public highway other than the portion designated as the interstate system. A certified public weigher will not be subject to any liability for measurement variance which falls within such three percent (3%) tolerance, but shall be responsible for measurement variance in excess of the three percent (3%) tolerance.
Acts 1981, ch. 389, § 13; T.C.A., § 71-812; Acts 1994, ch. 759, §§ 1, 2.
Tenn. Code Ann. § 47-18-128 — TN Code / Title 47 / Chapter 18 / Section 47-18-128
Disclosure of holds on debit cards
Status: in_force

(a) Any person providing goods or services who initiates a preauthorized debit card transaction that is more than twenty-five percent (25%) of the actual transaction amount, or fifty dollars ($50.00), whichever is greater, shall disclose at the time and point of sale that a hold will be placed on the customer's debit card account. The person initiating the hold shall disclose the dollar amount of the hold, if the amount is known. If the hold is initiated at an unmanned remote terminal, service device, or gas pump, the disclosure shall be made in conspicuous type at a location proximate to the point of payment. If the hold initiated is subject to a contractual agreement, order of the purchaser, or other written document, the notice shall be placed in conspicuous type in a segregated box on the front of the document. (b) A violation of this section constitutes an unfair and deceptive act or practice. Acts 2006, ch. 683, § 1.
(a) Any person providing goods or services who initiates a preauthorized debit card transaction that is more than twenty-five percent (25%) of the actual transaction amount, or fifty dollars ($50.00), whichever is greater, shall disclose at the time and point of sale that a hold will be placed on the customer's debit card account. The person initiating the hold shall disclose the dollar amount of the hold, if the amount is known. If the hold is initiated at an unmanned remote terminal, service device, or gas pump, the disclosure shall be made in conspicuous type at a location proximate to the point of payment. If the hold initiated is subject to a contractual agreement, order of the purchaser, or other written document, the notice shall be placed in conspicuous type in a segregated box on the front of the document.
(b) A violation of this section constitutes an unfair and deceptive act or practice.
Acts 2006, ch. 683, § 1.
Tenn. Code Ann. § 47-16-103 — TN Code / Title 47 / Chapter 16 / Section 47-16-103
Registration as litigation financier
Status: in_force

(a) (1) No litigation financier shall engage in a litigation financing transaction in this state unless it is registered as a litigation financier in this state. (2) A litigation financier that is a business entity or partnership is registered in this state if: (A) It is in compliance with the bond requirements of subsection (b); (B) It has a status of active and in good standing as reflected in the records of the secretary of state; and (C) Its charter, articles of organization, certificate of limited partnership, or other organizational document, or, if a foreign entity, its Tennessee application for a certificate of authority, contains a statement that it shall be designated as a litigation financier pursuant to this chapter. (3) A litigation financier that is not a business entity or partnership is registered in this state if: (A) It is in compliance with the bond requirements of subsection (b); and (B) It files an application for registration as a litigation financier on a form prescribed by the secretary of state, along with a filing fee of one hundred dollars ($100), that contains the following: (i) Applicant's full legal name; (ii) Business name of applicant, if any; (iii) Physical street address and mailing address of the applicant; (iv) A telephone number through which the applicant can be reached; (v) The name, physical street address, mailing address, and telephone number for a Tennessee registered agent appointed to accept service of process on behalf of the applicant; (vi) A statement that the applicant shall be designated as a litigation financier pursuant to this chapter; and (vii) Any other information the secretary of state deems necessary. (b) (1) Each litigation financier shall file and have approved by the secretary of state a surety bond in the amount of fifty thousand dollars ($50,000). (2) Such bond shall be payable to this state for the use of the attorney general and reporter and any person who may have a cause of action against the obligor of the bond for any violation of this chapter. The bond shall continue in effect so long as a litigation financier is designated as a litigation financier in the records of the secretary of state. (c) A litigation financier shall amend its registration with the secretary of state within thirty (30) days whenever the information contained in such record changes or becomes inaccurate or incomplete in any respect. A litigation financier that is not a business entity or partnership may amend its registration with the secretary of state by filing an amendment on a form prescribed by the secretary of state, along with a filing fee of twenty dollars ($20.00). (d) All documents filed pursuant to this section are public record. (e) The secretary of state shall collect a fee of twenty dollars ($20.00) for copying all filed documents pursuant to this chapter. All such copies shall be certified or validated by the secretary of state. (f) The secretary of state, as appropriate, may promulgate rules in implementing this chapter, including but not limited to, the adoption of fees to cover any administrative costs relating to administering this chapter. Acts 2014 , ch. 819, § 1.
(a) (1) No litigation financier shall engage in a litigation financing transaction in this state unless it is registered as a litigation financier in this state. (2) A litigation financier that is a business entity or partnership is registered in this state if: (A) It is in compliance with the bond requirements of subsection (b); (B) It has a status of active and in good standing as reflected in the records of the secretary of state; and (C) Its charter, articles of organization, certificate of limited partnership, or other organizational document, or, if a foreign entity, its Tennessee application for a certificate of authority, contains a statement that it shall be designated as a litigation financier pursuant to this chapter. (3) A litigation financier that is not a business entity or partnership is registered in this state if: (A) It is in compliance with the bond requirements of subsection (b); and (B) It files an application for registration as a litigation financier on a form prescribed by the secretary of state, along with a filing fee of one hundred dollars ($100), that contains the following: (i) Applicant's full legal name; (ii) Business name of applicant, if any; (iii) Physical street address and mailing address of the applicant; (iv) A telephone number through which the applicant can be reached; (v) The name, physical street address, mailing address, and telephone number for a Tennessee registered agent appointed to accept service of process on behalf of the applicant; (vi) A statement that the applicant shall be designated as a litigation financier pursuant to this chapter; and (vii) Any other information the secretary of state deems necessary.
(1) No litigation financier shall engage in a litigation financing transaction in this state unless it is registered as a litigation financier in this state.
(2) A litigation financier that is a business entity or partnership is registered in this state if: (A) It is in compliance with the bond requirements of subsection (b); (B) It has a status of active and in good standing as reflected in the records of the secretary of state; and (C) Its charter, articles of organization, certificate of limited partnership, or other organizational document, or, if a foreign entity, its Tennessee application for a certificate of authority, contains a statement that it shall be designated as a litigation financier pursuant to this chapter.
(A) It is in compliance with the bond requirements of subsection (b);
(B) It has a status of active and in good standing as reflected in the records of the secretary of state; and
(C) Its charter, articles of organization, certificate of limited partnership, or other organizational document, or, if a foreign entity, its Tennessee application for a certificate of authority, contains a statement that it shall be designated as a litigation financier pursuant to this chapter.
(3) A litigation financier that is not a business entity or partnership is registered in this state if: (A) It is in compliance with the bond requirements of subsection (b); and (B) It files an application for registration as a litigation financier on a form prescribed by the secretary of state, along with a filing fee of one hundred dollars ($100), that contains the following: (i) Applicant's full legal name; (ii) Business name of applicant, if any; (iii) Physical street address and mailing address of the applicant; (iv) A telephone number through which the applicant can be reached; (v) The name, physical street address, mailing address, and telephone number for a Tennessee registered agent appointed to accept service of process on behalf of the applicant; (vi) A statement that the applicant shall be designated as a litigation financier pursuant to this chapter; and (vii) Any other information the secretary of state deems necessary.
(A) It is in compliance with the bond requirements of subsection (b); and
(B) It files an application for registration as a litigation financier on a form prescribed by the secretary of state, along with a filing fee of one hundred dollars ($100), that contains the following: (i) Applicant's full legal name; (ii) Business name of applicant, if any; (iii) Physical street address and mailing address of the applicant; (iv) A telephone number through which the applicant can be reached; (v) The name, physical street address, mailing address, and telephone number for a Tennessee registered agent appointed to accept service of process on behalf of the applicant; (vi) A statement that the applicant shall be designated as a litigation financier pursuant to this chapter; and (vii) Any other information the secretary of state deems necessary.
(i) Applicant's full legal name;
(ii) Business name of applicant, if any;
(iii) Physical street address and mailing address of the applicant;
(iv) A telephone number through which the applicant can be reached;
(v) The name, physical street address, mailing address, and telephone number for a Tennessee registered agent appointed to accept service of process on behalf of the applicant;
(vi) A statement that the applicant shall be designated as a litigation financier pursuant to this chapter; and
(vii) Any other information the secretary of state deems necessary.
(b) (1) Each litigation financier shall file and have approved by the secretary of state a surety bond in the amount of fifty thousand dollars ($50,000). (2) Such bond shall be payable to this state for the use of the attorney general and reporter and any person who may have a cause of action against the obligor of the bond for any violation of this chapter. The bond shall continue in effect so long as a litigation financier is designated as a litigation financier in the records of the secretary of state.
(1) Each litigation financier shall file and have approved by the secretary of state a surety bond in the amount of fifty thousand dollars ($50,000).
(2) Such bond shall be payable to this state for the use of the attorney general and reporter and any person who may have a cause of action against the obligor of the bond for any violation of this chapter. The bond shall continue in effect so long as a litigation financier is designated as a litigation financier in the records of the secretary of state.
(c) A litigation financier shall amend its registration with the secretary of state within thirty (30) days whenever the information contained in such record changes or becomes inaccurate or incomplete in any respect. A litigation financier that is not a business entity or partnership may amend its registration with the secretary of state by filing an amendment on a form prescribed by the secretary of state, along with a filing fee of twenty dollars ($20.00).
(d) All documents filed pursuant to this section are public record.
(e) The secretary of state shall collect a fee of twenty dollars ($20.00) for copying all filed documents pursuant to this chapter. All such copies shall be certified or validated by the secretary of state.
(f) The secretary of state, as appropriate, may promulgate rules in implementing this chapter, including but not limited to, the adoption of fees to cover any administrative costs relating to administering this chapter.
Acts 2014 , ch. 819, § 1.
Tenn. Code Ann. § 47-13-120 — TN Code / Title 47 / Chapter 13 / Section 47-13-120
Time for presenting claims - Notice
Status: in_force

(a) A trustee under a general assignment made for the benefit of creditors shall give notice for a reasonable time by advertisement for four (4) consecutive issues in the nearest newspaper to or within the county in which the trustee is qualified, and by posting at the courthouse door of the county, for all persons having claims secured by the assignment to present the claims to the trustee, taking the trustee's receipt therefor, on or before a day fixed in such notice, which day shall not be less than twelve (12) months after the day of notice. (b) Any claims not presented to the trustee on or before the day so fixed, or before an appropriation of the trust funds, shall be forever barred, both in law and equity. Acts 1891, ch. 184, § 1; Shan., § 3528; mod. Code 1932, § 7792; T.C.A. (orig. ed.), § 47-1520.
(a) A trustee under a general assignment made for the benefit of creditors shall give notice for a reasonable time by advertisement for four (4) consecutive issues in the nearest newspaper to or within the county in which the trustee is qualified, and by posting at the courthouse door of the county, for all persons having claims secured by the assignment to present the claims to the trustee, taking the trustee's receipt therefor, on or before a day fixed in such notice, which day shall not be less than twelve (12) months after the day of notice.
(b) Any claims not presented to the trustee on or before the day so fixed, or before an appropriation of the trust funds, shall be forever barred, both in law and equity.
Acts 1891, ch. 184, § 1; Shan., § 3528; mod. Code 1932, § 7792; T.C.A. (orig. ed.), § 47-1520.
Tenn. Code Ann. § 47-8-205 — TN Code / Title 47 / Chapter 8 / Section 47-8-205
Effect of unauthorized signature on security certificate
Status: in_force

An unauthorized signature placed on a security certificate before or in the course of issue is ineffective, but the signature is effective in favor of a purchaser for value of the certificated security if the purchaser is without notice of the lack of authority and the signing has been done by: (1) an authenticating trustee, registrar, transfer agent, or other person entrusted by the issuer with the signing of the security certificate or of similar security certificates, or the immediate preparation for signing of any of them; or (2) an employee of the issuer, or of any of the persons listed in paragraph (1), entrusted with responsible handling of the security certificate. Acts 1997, ch. 79, § 1.
An unauthorized signature placed on a security certificate before or in the course of issue is ineffective, but the signature is effective in favor of a purchaser for value of the certificated security if the purchaser is without notice of the lack of authority and the signing has been done by:
(1) an authenticating trustee, registrar, transfer agent, or other person entrusted by the issuer with the signing of the security certificate or of similar security certificates, or the immediate preparation for signing of any of them; or
(2) an employee of the issuer, or of any of the persons listed in paragraph (1), entrusted with responsible handling of the security certificate.
Acts 1997, ch. 79, § 1.
Tenn. Code Ann. § 47-18-5541 — TN Code / Title 47 / Chapter 18 / Section 47-18-5541
Severability
Status: in_force

If any provision of this part or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this part that can be given effect without the invalid provision or application, and to this end the provisions of this part are severable. Acts 2009, ch. 469, § 1.
If any provision of this part or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this part that can be given effect without the invalid provision or application, and to this end the provisions of this part are severable.
Acts 2009, ch. 469, § 1.
Tenn. Code Ann. § 47-2a-309 — TN Code / Title 47 / Chapter 2a / Section 47-2a-309
2024 Tennessee Code Title 47 - COMMERCIAL INSTRUMENTS AND TRANSACTIONS (§§ 47-1-101 — 47-50-121) Chapter 2A - LEASES (§§ 47-2A-101 — 47-2A-532) Part 3 - EFFECT OF LEASE CONTRACT (§§ 47-2A-301 — 47-2A-311) Section 47-2A-309 - Lessor's and lessee's rights when goods become fixtures
Status: in_force

(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 § 47-9-502(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 rights in real estate that are not ownership interests. (2) Under this chapter a lease may be of goods that are fixtures or may continue in goods that become fixtures, but no lease exists under this chapter of ordinary building materials incorporated into an improvement on land. (3) This chapter does not prevent creation of a lease of fixtures pursuant to real estate law. (4) The perfected interest of a lessor of fixtures has priority over a conflicting interest of an encumbrancer or owner of the real estate if: (a) the lease is a purchase money lease, the conflicting interest of the encumbrancer or owner arises before the goods become fixtures, the interest of the lessor is perfected by a fixture filing before the goods become fixtures or within ten (10) days thereafter, and the lessee has an interest of record in the real estate or is in possession of the real estate; or (b) the interest of the lessor is perfected by a fixture filing before the interest of the encumbrancer or owner is of record, the lessor's interest has priority over any conflicting interest of a predecessor in title of the encumbrancer or owner, and the lessee has an interest of record in the real estate or is in possession of the real estate. (5) The interest of a lessor of fixtures, whether or not perfected, has priority over the conflicting interest of an encumbrancer or owner of the real estate if: (a) the fixtures are readily removable factory or office machines, readily removable equipment that is not primarily used or leased for use in the operation of the real estate, or readily removable replacements of domestic appliances that are goods subject to a consumer lease, and before the goods become fixtures the lease contract is enforceable; or (b) the conflicting interest is a lien on the real estate obtained by legal or equitable proceedings after the lease contract is enforceable; or (c) the encumbrancer or owner has consented in writing to the lease or has disclaimed an interest in the goods as fixtures; or (d) the lessee has a right to remove the goods as against the encumbrancer or owner. If the lessee's right to remove terminates, the priority of the interest of the lessor continues for a reasonable time. (6) Notwithstanding subsection (4)(a) but otherwise subject to subsections (4) and (5), the interest of a lessor of fixtures, including the lessor's residual interest, is subordinate to the conflicting interest of an encumbrancer of the real estate under a construction mortgage recorded before the goods become fixtures if the goods become fixtures before the completion of the construction. To the extent given to refinance a construction mortgage, the conflicting interest of an encumbrancer of the real estate under a mortgage has this priority to the same extent as the encumbrancer of the real estate under the construction mortgage. (7) In cases not within the preceding subsections, priority between the interest of a lessor of fixtures, including the lessor's residual interest, and the conflicting interest of an encumbrancer or owner of the real estate who is not the lessee is determined by the priority rules governing conflicting interests in real estate. (8) If the interest of a lessor of fixtures, including the lessor's residual interest, has priority over all conflicting interests of all owners and encumbrancers of the real estate, the lessor or the lessee may (i) on default, expiration, termination, or cancellation of the lease agreement but subject to the agreement and this chapter, or (ii) if necessary to enforce other rights and remedies of the lessor or lessee under this chapter, remove the goods from the real estate, free and clear of all conflicting interests of all owners and encumbrancers of the real estate, but the lessor or lessee must reimburse any encumbrancer or owner of the real estate who is not the lessee and who has not otherwise agreed for the cost of repair of any physical injury, but not for any diminution in value of the real estate caused by the absence of the goods removed or by any necessity of replacing them. A person entitled to reimbursement may refuse permission to remove until the party seeking removal gives adequate security for the performance of this obligation. (9) Even though the lease agreement does not create a security interest, the interest of a lessor of fixtures, including the lessor's residual interest, is perfected by filing a financing statement as a fixture filing for leased goods that are or are to become fixtures in accordance with the relevant provisions of the chapter on secured transactions (chapter 9). Acts 1993, ch. 398, § 1; 2000, ch. 846, § 12.
(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 § 47-9-502(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 rights in real estate that are not ownership interests.
(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 § 47-9-502(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 rights in real estate that are not ownership interests.
(2) Under this chapter a lease may be of goods that are fixtures or may continue in goods that become fixtures, but no lease exists under this chapter of ordinary building materials incorporated into an improvement on land.
(3) This chapter does not prevent creation of a lease of fixtures pursuant to real estate law.
(4) The perfected interest of a lessor of fixtures has priority over a conflicting interest of an encumbrancer or owner of the real estate if: (a) the lease is a purchase money lease, the conflicting interest of the encumbrancer or owner arises before the goods become fixtures, the interest of the lessor is perfected by a fixture filing before the goods become fixtures or within ten (10) days thereafter, and the lessee has an interest of record in the real estate or is in possession of the real estate; or (b) the interest of the lessor is perfected by a fixture filing before the interest of the encumbrancer or owner is of record, the lessor's interest has priority over any conflicting interest of a predecessor in title of the encumbrancer or owner, and the lessee has an interest of record in the real estate or is in possession of the real estate.
(a) the lease is a purchase money lease, the conflicting interest of the encumbrancer or owner arises before the goods become fixtures, the interest of the lessor is perfected by a fixture filing before the goods become fixtures or within ten (10) days thereafter, and the lessee has an interest of record in the real estate or is in possession of the real estate; or
(b) the interest of the lessor is perfected by a fixture filing before the interest of the encumbrancer or owner is of record, the lessor's interest has priority over any conflicting interest of a predecessor in title of the encumbrancer or owner, and the lessee has an interest of record in the real estate or is in possession of the real estate.
(5) The interest of a lessor of fixtures, whether or not perfected, has priority over the conflicting interest of an encumbrancer or owner of the real estate if: (a) the fixtures are readily removable factory or office machines, readily removable equipment that is not primarily used or leased for use in the operation of the real estate, or readily removable replacements of domestic appliances that are goods subject to a consumer lease, and before the goods become fixtures the lease contract is enforceable; or (b) the conflicting interest is a lien on the real estate obtained by legal or equitable proceedings after the lease contract is enforceable; or (c) the encumbrancer or owner has consented in writing to the lease or has disclaimed an interest in the goods as fixtures; or (d) the lessee has a right to remove the goods as against the encumbrancer or owner. If the lessee's right to remove terminates, the priority of the interest of the lessor continues for a reasonable time.
(a) the fixtures are readily removable factory or office machines, readily removable equipment that is not primarily used or leased for use in the operation of the real estate, or readily removable replacements of domestic appliances that are goods subject to a consumer lease, and before the goods become fixtures the lease contract is enforceable; or
(b) the conflicting interest is a lien on the real estate obtained by legal or equitable proceedings after the lease contract is enforceable; or
(c) the encumbrancer or owner has consented in writing to the lease or has disclaimed an interest in the goods as fixtures; or
(d) the lessee has a right to remove the goods as against the encumbrancer or owner. If the lessee's right to remove terminates, the priority of the interest of the lessor continues for a reasonable time.
(6) Notwithstanding subsection (4)(a) but otherwise subject to subsections (4) and (5), the interest of a lessor of fixtures, including the lessor's residual interest, is subordinate to the conflicting interest of an encumbrancer of the real estate under a construction mortgage recorded before the goods become fixtures if the goods become fixtures before the completion of the construction. To the extent given to refinance a construction mortgage, the conflicting interest of an encumbrancer of the real estate under a mortgage has this priority to the same extent as the encumbrancer of the real estate under the construction mortgage.
(7) In cases not within the preceding subsections, priority between the interest of a lessor of fixtures, including the lessor's residual interest, and the conflicting interest of an encumbrancer or owner of the real estate who is not the lessee is determined by the priority rules governing conflicting interests in real estate.
(8) If the interest of a lessor of fixtures, including the lessor's residual interest, has priority over all conflicting interests of all owners and encumbrancers of the real estate, the lessor or the lessee may (i) on default, expiration, termination, or cancellation of the lease agreement but subject to the agreement and this chapter, or (ii) if necessary to enforce other rights and remedies of the lessor or lessee under this chapter, remove the goods from the real estate, free and clear of all conflicting interests of all owners and encumbrancers of the real estate, but the lessor or lessee must reimburse any encumbrancer or owner of the real estate who is not the lessee and who has not otherwise agreed for the cost of repair of any physical injury, but not for any diminution in value of the real estate caused by the absence of the goods removed or by any necessity of replacing them. A person entitled to reimbursement may refuse permission to remove until the party seeking removal gives adequate security for the performance of this obligation.
(9) Even though the lease agreement does not create a security interest, the interest of a lessor of fixtures, including the lessor's residual interest, is perfected by filing a financing statement as a fixture filing for leased goods that are or are to become fixtures in accordance with the relevant provisions of the chapter on secured transactions (chapter 9).
Acts 1993, ch. 398, § 1; 2000, ch. 846, § 12.
Tenn. Code Ann. § 47-12-104 — TN Code / Title 47 / Chapter 12 / Section 47-12-104
Assignor or endorser
Status: in_force

The assignor or endorser of any such bond, bill, or note, may pursue the same course with like effect in order to discharge such assignor or endorser from liability to the assignee of the bond, bill, or note. Code 1858, § 1971 (deriv. Acts 1801, ch. 18, § 3); Shan., §3520; mod. Code 1932, § 7529; T.C.A. (orig. ed.), § 47-704.
The assignor or endorser of any such bond, bill, or note, may pursue the same course with like effect in order to discharge such assignor or endorser from liability to the assignee of the bond, bill, or note.
Code 1858, § 1971 (deriv. Acts 1801, ch. 18, § 3); Shan., §3520; mod. Code 1932, § 7529; T.C.A. (orig. ed.), § 47-704.
Tenn. Code Ann. § 47-50-116 — TN Code / Title 47 / Chapter 50 / Section 47-50-116
References to 911 service restricted
Status: in_force

(a) It is unlawful for any individual or entity to make reference to 911 service, as authorized under title 7, chapter 86, in any advertisement if such reference is false, misleading, or deceptive. As used in this section, "advertisement" means any representation disseminated in any manner or by any means, other than by labeling, for the purpose of inducing the purchase of an item or service. (b) A violation of this section is a Class C misdemeanor punishable only by a fine. An emergency communications district may seek an order from a court with competent jurisdiction enjoining a violator from such unlawful conduct. The court may award reasonable attorney fees and costs to a prevailing district in such case. Acts 1996, ch. 924, § 1.
(a) It is unlawful for any individual or entity to make reference to 911 service, as authorized under title 7, chapter 86, in any advertisement if such reference is false, misleading, or deceptive. As used in this section, "advertisement" means any representation disseminated in any manner or by any means, other than by labeling, for the purpose of inducing the purchase of an item or service.
(b) A violation of this section is a Class C misdemeanor punishable only by a fine. An emergency communications district may seek an order from a court with competent jurisdiction enjoining a violator from such unlawful conduct. The court may award reasonable attorney fees and costs to a prevailing district in such case.
Acts 1996, ch. 924, § 1.
Tenn. Code Ann. § 47-9-605 — TN Code / Title 47 / Chapter 9 / Section 47-9-605
Unknown debtor or secondary obligor
Status: in_force

A secured party does not owe a duty based on its status as secured party: (1) to a person that is a debtor or obligor, unless the secured party knows: (A) that the person is a debtor or obligor; (B) the identity of the person; and (C) how to communicate with the person; or (2) to a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows: (A) that the person is a debtor; and (B) the identity of the person. Acts 2000, ch. 846, § 1.
A secured party does not owe a duty based on its status as secured party:
(1) to a person that is a debtor or obligor, unless the secured party knows: (A) that the person is a debtor or obligor; (B) the identity of the person; and (C) how to communicate with the person; or
(A) that the person is a debtor or obligor;
(B) the identity of the person; and
(C) how to communicate with the person; or
(2) to a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows: (A) that the person is a debtor; and (B) the identity of the person.
(A) that the person is a debtor; and
(B) the identity of the person.
Acts 2000, ch. 846, § 1.
Tenn. Code Ann. § 47-4a-506 — TN Code / Title 47 / Chapter 4a / Section 47-4a-506
2024 Tennessee Code Title 47 - COMMERCIAL INSTRUMENTS AND TRANSACTIONS (§§ 47-1-101 — 47-50-121) Chapter 4A - FUNDS TRANSFERS (§§ 47-4A-101 — 47-4A-507) Part 5 - MISCELLANEOUS PROVISIONS (§§ 47-4A-501 — 47-4A-507) Section 47-4A-506 - Rate of interest
Status: in_force

(a) If, under this chapter, a receiving bank is obliged to pay interest with respect to a payment order issued to the bank, the amount payable may be determined: (i) By agreement of the sender and receiving bank; or (ii) By a funds-transfer system rule if the payment order is transmitted through a funds-transfer system. (b) If the amount of interest is not determined by an agreement or rule as stated in subsection (a), the amount is calculated by multiplying the applicable federal funds rate by the amount on which interest is payable, and then multiplying the product by the number of days for which interest is payable. The applicable federal funds rate is the average of the federal funds rates published by the federal reserve bank of New York for each of the days for which interest is payable divided by three hundred sixty (360). The federal funds rate for any day on which a published rate is not available is the same as the published rate for the next preceding day for which there is a published rate. If a receiving bank that accepted a payment order is required to refund payment to the sender of the order because the funds transfer was not completed, but the failure to complete was not due to any fault by the bank, the interest payable is reduced by a percentage equal to the reserve requirement on deposits of the receiving bank. Acts 1991, ch. 52, § 1.
(a) If, under this chapter, a receiving bank is obliged to pay interest with respect to a payment order issued to the bank, the amount payable may be determined: (i) By agreement of the sender and receiving bank; or (ii) By a funds-transfer system rule if the payment order is transmitted through a funds-transfer system.
(i) By agreement of the sender and receiving bank; or
(ii) By a funds-transfer system rule if the payment order is transmitted through a funds-transfer system.
(b) If the amount of interest is not determined by an agreement or rule as stated in subsection (a), the amount is calculated by multiplying the applicable federal funds rate by the amount on which interest is payable, and then multiplying the product by the number of days for which interest is payable. The applicable federal funds rate is the average of the federal funds rates published by the federal reserve bank of New York for each of the days for which interest is payable divided by three hundred sixty (360). The federal funds rate for any day on which a published rate is not available is the same as the published rate for the next preceding day for which there is a published rate. If a receiving bank that accepted a payment order is required to refund payment to the sender of the order because the funds transfer was not completed, but the failure to complete was not due to any fault by the bank, the interest payable is reduced by a percentage equal to the reserve requirement on deposits of the receiving bank.
Acts 1991, ch. 52, § 1.
Tenn. Code Ann. § 47-25-206 — TN Code / Title 47 / Chapter 25 / Section 47-25-206
Injunction restraining unlawful sales
Status: in_force

In addition to the penalties provided in this part, the district attorney general of any county or any person damaged, or who is threatened with loss or damage, by reason of a violation of this part, has the right to apply for an injunction, and any court of competent jurisdiction has the power to restrain sales in violation of this part. Acts 1937, ch. 69, § 4; C. Supp. 1950, § 6770.10; T.C.A. (orig. ed.), § 69-306.
In addition to the penalties provided in this part, the district attorney general of any county or any person damaged, or who is threatened with loss or damage, by reason of a violation of this part, has the right to apply for an injunction, and any court of competent jurisdiction has the power to restrain sales in violation of this part.
Acts 1937, ch. 69, § 4; C. Supp. 1950, § 6770.10; T.C.A. (orig. ed.), § 69-306.
Tenn. Code Ann. § 47-50-118 — TN Code / Title 47 / Chapter 50 / Section 47-50-118
Refund on purchase price of ticket for cancelled performance or event
Status: in_force

(a) Upon cancellation of any performance or event for which a ticket for admission is sold, the ticketing service company that contracts to sell tickets for such event or performance at retail ticket outlets shall refund to all ticket purchasers the purchase price of the ticket plus any service fees or charges paid by the purchaser for such ticket. (b) It is deemed to be an unfair business practice under the Consumer Protection Act, chapter 18 of this title, if a ticketing service company fails to refund the purchase price in accordance with subsection (a). (c) Notwithstanding any law to the contrary, upon cancellation of any performance or event performed or arranged by a nonprofit corporation with an annual payroll of more than one hundred thousand dollars ($100,000) due to an earthquake, tornado, or other such natural disaster, such nonprofit corporation shall offer refunds to all ticket purchasers to such performance or event. After one hundred eighty (180) days after the cancellation of a performance or event due to an earthquake, tornado or other natural disaster, the nonprofit organization shall be entitled to the purchase price of all unclaimed tickets. It is the clear and unequivocal intent of the general assembly that this subsection (c) has retroactive application to January 1, 1998. Acts 1998, ch. 1001, § 2; 1999, ch. 214, § 1.
(a) Upon cancellation of any performance or event for which a ticket for admission is sold, the ticketing service company that contracts to sell tickets for such event or performance at retail ticket outlets shall refund to all ticket purchasers the purchase price of the ticket plus any service fees or charges paid by the purchaser for such ticket.
(b) It is deemed to be an unfair business practice under the Consumer Protection Act, chapter 18 of this title, if a ticketing service company fails to refund the purchase price in accordance with subsection (a).
(c) Notwithstanding any law to the contrary, upon cancellation of any performance or event performed or arranged by a nonprofit corporation with an annual payroll of more than one hundred thousand dollars ($100,000) due to an earthquake, tornado, or other such natural disaster, such nonprofit corporation shall offer refunds to all ticket purchasers to such performance or event. After one hundred eighty (180) days after the cancellation of a performance or event due to an earthquake, tornado or other natural disaster, the nonprofit organization shall be entitled to the purchase price of all unclaimed tickets. It is the clear and unequivocal intent of the general assembly that this subsection (c) has retroactive application to January 1, 1998.
Acts 1998, ch. 1001, § 2; 1999, ch. 214, § 1.
Tenn. Code Ann. § 47-9-408 — TN Code / Title 47 / Chapter 9 / Section 47-9-408
Restrictions on assignment of promissory notes, health-care-insurance receivables, and certain general intangibles ineffective
Status: in_force

(a) Term restricting assignment generally ineffective. Except as otherwise provided in subsection (b), a term in a promissory note or in an agreement between an account debtor and a debtor which relates to a health-care-insurance receivable or a general intangible, including a contract, permit, license, or franchise, and which term prohibits, restricts, or requires the consent of the person obligated on the promissory note or the account debtor to, the assignment or transfer of, or creation, attachment, or perfection of a security interest in, the promissory note, health-care-insurance receivable, or general intangible, is ineffective to the extent that the term: (1) Would impair the creation, attachment, or perfection of a security interest; or (2) Provides that the assignment or transfer or the creation, attachment, or perfection of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the promissory note, health-care-insurance receivable, or general intangible. (b) Applicability of subsection (a) to sales of certain rights to payment. Subsection (a) applies to a security interest in a payment intangible or promissory note only if the security interest arises out of a sale of the payment intangible or promissory note, other than a sale pursuant to a disposition under § 47-9-610 or an acceptance of collateral under § 47-9-620 . (c) Legal restrictions on assignment generally ineffective. A rule of law, statute, or regulation that prohibits, restricts, or requires the consent of a government, governmental body or official, person obligated on a promissory note, or account debtor to the assignment or transfer of, or creation of a security interest in, a promissory note, health-care-insurance receivable, or general intangible, including a contract, permit, license, or franchise between an account debtor and a debtor, is ineffective to the extent that the rule of law, statute, or regulation: (1) Would impair the creation, attachment, or perfection of a security interest; or (2) Provides that the assignment or transfer or the creation, attachment, or perfection of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the promissory note, health-care-insurance receivable, or general intangible. (d) Limitation on ineffectiveness under subsections (a) and (c). To the extent that a term in a promissory note or in an agreement between an account debtor and a debtor which relates to a health-care-insurance receivable or general intangible or a rule of law, statute, or regulation described in subsection (c) would be effective under law other than this chapter but is ineffective under subsection (a) or (c), the creation, attachment, or perfection of a security interest in the promissory note, health-care-insurance receivable, or general intangible: (1) Is not enforceable against the person obligated on the promissory note or the account debtor; (2) Does not impose a duty or obligation on the person obligated on the promissory note or the account debtor; (3) Does not require the person obligated on the promissory note or the account debtor to recognize the security interest, pay or render performance to the secured party, or accept payment or performance from the secured party; (4) Does not entitle the secured party to use or assign the debtor's rights under the promissory note, health-care-insurance receivable, or general intangible, including any related information or materials furnished to the debtor in the transaction giving rise to the promissory note, health-care-insurance receivable, or general intangible; (5) Does not entitle the secured party to use, assign, possess, or have access to any trade secrets or confidential information of the person obligated on the promissory note or the account debtor; and (6) Does not entitle the secured party to enforce the security interest in the promissory note, health-care-insurance receivable, or general intangible. (e) Section prevails over specified inconsistent law. This section prevails over any inconsistent provisions of an existing or future statute, rule or regulation of this state unless the provision is contained in a statute of this state, refers expressly to this section and states that the provision prevails over this section. Acts 2000, ch. 846, § 1; 2012, ch. 708, § 11.
(a) Term restricting assignment generally ineffective. Except as otherwise provided in subsection (b), a term in a promissory note or in an agreement between an account debtor and a debtor which relates to a health-care-insurance receivable or a general intangible, including a contract, permit, license, or franchise, and which term prohibits, restricts, or requires the consent of the person obligated on the promissory note or the account debtor to, the assignment or transfer of, or creation, attachment, or perfection of a security interest in, the promissory note, health-care-insurance receivable, or general intangible, is ineffective to the extent that the term: (1) Would impair the creation, attachment, or perfection of a security interest; or (2) Provides that the assignment or transfer or the creation, attachment, or perfection of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the promissory note, health-care-insurance receivable, or general intangible.
(1) Would impair the creation, attachment, or perfection of a security interest; or
(2) Provides that the assignment or transfer or the creation, attachment, or perfection of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the promissory note, health-care-insurance receivable, or general intangible.
(b) Applicability of subsection (a) to sales of certain rights to payment. Subsection (a) applies to a security interest in a payment intangible or promissory note only if the security interest arises out of a sale of the payment intangible or promissory note, other than a sale pursuant to a disposition under § 47-9-610 or an acceptance of collateral under § 47-9-620 .
(c) Legal restrictions on assignment generally ineffective. A rule of law, statute, or regulation that prohibits, restricts, or requires the consent of a government, governmental body or official, person obligated on a promissory note, or account debtor to the assignment or transfer of, or creation of a security interest in, a promissory note, health-care-insurance receivable, or general intangible, including a contract, permit, license, or franchise between an account debtor and a debtor, is ineffective to the extent that the rule of law, statute, or regulation: (1) Would impair the creation, attachment, or perfection of a security interest; or (2) Provides that the assignment or transfer or the creation, attachment, or perfection of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the promissory note, health-care-insurance receivable, or general intangible.
(1) Would impair the creation, attachment, or perfection of a security interest; or
(2) Provides that the assignment or transfer or the creation, attachment, or perfection of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the promissory note, health-care-insurance receivable, or general intangible.
(d) Limitation on ineffectiveness under subsections (a) and (c). To the extent that a term in a promissory note or in an agreement between an account debtor and a debtor which relates to a health-care-insurance receivable or general intangible or a rule of law, statute, or regulation described in subsection (c) would be effective under law other than this chapter but is ineffective under subsection (a) or (c), the creation, attachment, or perfection of a security interest in the promissory note, health-care-insurance receivable, or general intangible: (1) Is not enforceable against the person obligated on the promissory note or the account debtor; (2) Does not impose a duty or obligation on the person obligated on the promissory note or the account debtor; (3) Does not require the person obligated on the promissory note or the account debtor to recognize the security interest, pay or render performance to the secured party, or accept payment or performance from the secured party; (4) Does not entitle the secured party to use or assign the debtor's rights under the promissory note, health-care-insurance receivable, or general intangible, including any related information or materials furnished to the debtor in the transaction giving rise to the promissory note, health-care-insurance receivable, or general intangible; (5) Does not entitle the secured party to use, assign, possess, or have access to any trade secrets or confidential information of the person obligated on the promissory note or the account debtor; and (6) Does not entitle the secured party to enforce the security interest in the promissory note, health-care-insurance receivable, or general intangible.
(1) Is not enforceable against the person obligated on the promissory note or the account debtor;
(2) Does not impose a duty or obligation on the person obligated on the promissory note or the account debtor;
(3) Does not require the person obligated on the promissory note or the account debtor to recognize the security interest, pay or render performance to the secured party, or accept payment or performance from the secured party;
(4) Does not entitle the secured party to use or assign the debtor's rights under the promissory note, health-care-insurance receivable, or general intangible, including any related information or materials furnished to the debtor in the transaction giving rise to the promissory note, health-care-insurance receivable, or general intangible;
(5) Does not entitle the secured party to use, assign, possess, or have access to any trade secrets or confidential information of the person obligated on the promissory note or the account debtor; and
(6) Does not entitle the secured party to enforce the security interest in the promissory note, health-care-insurance receivable, or general intangible.
(e) Section prevails over specified inconsistent law. This section prevails over any inconsistent provisions of an existing or future statute, rule or regulation of this state unless the provision is contained in a statute of this state, refers expressly to this section and states that the provision prevails over this section.
Acts 2000, ch. 846, § 1; 2012, ch. 708, § 11.
Tenn. Code Ann. § 47-2a-305 — TN Code / Title 47 / Chapter 2a / Section 47-2a-305
2024 Tennessee Code Title 47 - COMMERCIAL INSTRUMENTS AND TRANSACTIONS (§§ 47-1-101 — 47-50-121) Chapter 2A - LEASES (§§ 47-2A-101 — 47-2A-532) Part 3 - EFFECT OF LEASE CONTRACT (§§ 47-2A-301 — 47-2A-311) Section 47-2A-305 - Sale or sublease of goods by lessee
Status: in_force

(1) Subject to the provisions of § 47-2A-303 , a buyer or sublessee from the lessee of goods under an existing lease contract obtains, to the extent of the interest transferred, the leasehold interest in the goods that the lessee had or had power to transfer, and except as provided in subsection (2) and § 47-2A-511(4) , takes subject to the existing lease contract. A lessee with a voidable leasehold interest has power to transfer a good leasehold interest to a good faith buyer for value or a good faith sublessee for value, but only to the extent set forth in the preceding sentence. When goods have been delivered under a transaction of lease the lessee has that power even though: (a) the lessor was deceived as to the identity of the lessee; (b) the delivery was in exchange for a check which is later dishonored; or (c) the delivery was procured through fraud punishable as larcenous under the criminal law. (2) A buyer in the ordinary course of business or a sublessee in the ordinary course of business from a lessee who is a merchant dealing in goods of that kind to whom the goods were entrusted by the lessor obtains, to the extent of the interest transferred, all of the lessor's and lessee's rights to the goods, and takes free of the existing lease contract. (3) A buyer or sublessee from the lessee of goods that are subject to an existing lease contract and are covered by a certificate of title issued under a statute of this state or of another jurisdiction takes no greater rights than those provided both by this section and by the certificate of title statute. Acts 1993, ch. 398, § 1.
(1) Subject to the provisions of § 47-2A-303 , a buyer or sublessee from the lessee of goods under an existing lease contract obtains, to the extent of the interest transferred, the leasehold interest in the goods that the lessee had or had power to transfer, and except as provided in subsection (2) and § 47-2A-511(4) , takes subject to the existing lease contract. A lessee with a voidable leasehold interest has power to transfer a good leasehold interest to a good faith buyer for value or a good faith sublessee for value, but only to the extent set forth in the preceding sentence. When goods have been delivered under a transaction of lease the lessee has that power even though: (a) the lessor was deceived as to the identity of the lessee; (b) the delivery was in exchange for a check which is later dishonored; or (c) the delivery was procured through fraud punishable as larcenous under the criminal law.
(a) the lessor was deceived as to the identity of the lessee;
(b) the delivery was in exchange for a check which is later dishonored; or
(c) the delivery was procured through fraud punishable as larcenous under the criminal law.
(2) A buyer in the ordinary course of business or a sublessee in the ordinary course of business from a lessee who is a merchant dealing in goods of that kind to whom the goods were entrusted by the lessor obtains, to the extent of the interest transferred, all of the lessor's and lessee's rights to the goods, and takes free of the existing lease contract.
(3) A buyer or sublessee from the lessee of goods that are subject to an existing lease contract and are covered by a certificate of title issued under a statute of this state or of another jurisdiction takes no greater rights than those provided both by this section and by the certificate of title statute.
Acts 1993, ch. 398, § 1.
Tenn. Code Ann. § 47-2-105 — TN Code / Title 47 / Chapter 2 / Section 47-2-105
Definitions - Transferability - "Goods" - "Future goods" - "Lot" - "Commercial unit."
Status: in_force

(1) "Goods" means all things (including specially manufactured goods) which are movable at the time of identification to the contract for sale other than the money in which the price is to be paid, investment securities (chapter 8 of this title) and things in action. "Goods" also includes the unborn young of animals and growing crops and other identified things attached to realty as described in the section on goods to be severed from realty (§ 47-2-107 ). (2) Goods must be both existing and identified before any interest in them can pass. Goods which are not both existing and identified are "future goods." A purported present sale of future goods or of any interest therein operates as a contract to sell. (3) There may be a sale of a part interest in existing identified goods. (4) An undivided share in an identified bulk of fungible goods is sufficiently identified to be sold although the quantity of the bulk is not determined. Any agreed proportion of such a bulk or any quantity thereof agreed upon by number, weight or other measure may to the extent of the seller's interest in the bulk be sold to the buyer who then becomes an owner in common. (5) "Lot" means a parcel or a single article which is the subject matter of a separate sale or delivery, whether or not it is sufficient to perform the contract. (6) "Commercial unit" means such a unit of goods as by commercial usage is a single whole for purposes of sale and division of which materially impairs its character or value on the market or in use. A commercial unit may be a single article (as a machine) or a set of articles (as a suite of furniture or an assortment of sizes) or a quantity (as a bale, gross, or carload) or any other unit treated in use or in the relevant market as a single whole. Acts 1963, ch. 81, § 1 (2-105).
(1) "Goods" means all things (including specially manufactured goods) which are movable at the time of identification to the contract for sale other than the money in which the price is to be paid, investment securities (chapter 8 of this title) and things in action. "Goods" also includes the unborn young of animals and growing crops and other identified things attached to realty as described in the section on goods to be severed from realty (§ 47-2-107 ).
(2) Goods must be both existing and identified before any interest in them can pass. Goods which are not both existing and identified are "future goods." A purported present sale of future goods or of any interest therein operates as a contract to sell.
(3) There may be a sale of a part interest in existing identified goods.
(4) An undivided share in an identified bulk of fungible goods is sufficiently identified to be sold although the quantity of the bulk is not determined. Any agreed proportion of such a bulk or any quantity thereof agreed upon by number, weight or other measure may to the extent of the seller's interest in the bulk be sold to the buyer who then becomes an owner in common.
(5) "Lot" means a parcel or a single article which is the subject matter of a separate sale or delivery, whether or not it is sufficient to perform the contract.
(6) "Commercial unit" means such a unit of goods as by commercial usage is a single whole for purposes of sale and division of which materially impairs its character or value on the market or in use. A commercial unit may be a single article (as a machine) or a set of articles (as a suite of furniture or an assortment of sizes) or a quantity (as a bale, gross, or carload) or any other unit treated in use or in the relevant market as a single whole.
Acts 1963, ch. 81, § 1 (2-105).
Tenn. Code Ann. § 47-25-310 — TN Code / Title 47 / Chapter 25 / Section 47-25-310
Participation by retailer in certain special programs
Status: in_force

Participation in a manufacturer's incentive program, discount price program or special price program shall not cause a retailer to be in violation of this part. Acts 1998, ch. 768, § 1.
Participation in a manufacturer's incentive program, discount price program or special price program shall not cause a retailer to be in violation of this part.
Acts 1998, ch. 768, § 1.
Tenn. Code Ann. § 47-9-618 — TN Code / Title 47 / Chapter 9 / Section 47-9-618
Rights and duties of certain secondary obligors
Status: in_force

(a) Rights and duties of secondary obligor. A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor: (1) receives an assignment of a secured obligation from the secured party; (2) receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or (3) is subrogated to the rights of a secured party with respect to collateral. (b) Effect of assignment, transfer, or subrogation. An assignment, transfer, or subrogation described in subsection (a): (1) is not a disposition of collateral under § 47-9-610 ; and (2) relieves the secured party of further duties under this chapter. Acts 2000, ch. 846, § 1.
(a) Rights and duties of secondary obligor. A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor: (1) receives an assignment of a secured obligation from the secured party; (2) receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or (3) is subrogated to the rights of a secured party with respect to collateral.
(1) receives an assignment of a secured obligation from the secured party;
(2) receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or
(3) is subrogated to the rights of a secured party with respect to collateral.
(b) Effect of assignment, transfer, or subrogation. An assignment, transfer, or subrogation described in subsection (a): (1) is not a disposition of collateral under § 47-9-610 ; and (2) relieves the secured party of further duties under this chapter.
(1) is not a disposition of collateral under § 47-9-610 ; and
(2) relieves the secured party of further duties under this chapter.
Acts 2000, ch. 846, § 1.
Tenn. Code Ann. § 47-3-103 — TN Code / Title 47 / Chapter 3 / Section 47-3-103
Definitions
Status: in_force

(a) In this chapter: (1) "Acceptor" means a drawee who has accepted a draft; (2) "Drawee" means a person ordered in a draft to make payment; (3) "Drawer" means a person who signs or is identified in a draft as a person ordering payment; (4) "Maker" means a person who signs or is identified in a note as a person undertaking to pay; (5) "Order" means a written instruction to pay money signed by the person giving the instruction. The instruction may be addressed to any person, including the person giving the instruction, or to one (1) or more persons jointly or in the alternative but not in succession. An authorization to pay is not an order unless the person authorized to pay is also instructed to pay; (6) "Ordinary care" in the case of a person engaged in business means observance of reasonable commercial standards, prevailing in the area in which the person is located, with respect to the business in which the person is engaged. In the case of a bank that takes an instrument for processing for collection or payment by automated means, reasonable commercial standards do not require the bank to examine the instrument if the failure to examine does not violate the bank's prescribed procedures and the bank's procedures do not vary unreasonably from general banking usage not disapproved by this chapter or chapter 4 of this title; (7) "Party" means a party to an instrument; (8) "Promise" means a written undertaking to pay money signed by the person undertaking to pay. An acknowledgment of an obligation by the obligor is not a promise unless the obligor also undertakes to pay the obligation; (9) "Prove" with respect to a fact means to meet the burden of establishing the fact (§ 47-1-201 ); and (10) "Remitter" means a person who purchases an instrument from its issuer if the instrument is payable to an identified person other than the purchaser. (b) Other definitions applying to this chapter and the sections in which they appear are: "Acceptance." § 47-3-409 . "Accommodated party." § 47-3-419 . "Accommodation party." § 47-3-419 . "Alteration." § 47-3-407 . "Anomalous endorsement." § 47-3-205 . "Blank endorsement." § 47-3-205 . "Cashier's check." § 47-3-104 . "Certificate of deposit." § 47-3-104 . "Certified check." § 47-3-409 . "Check." § 47-3-104 . "Consideration." § 47-3-303 . "Draft." § 47-3-104 . "Endorsement." § 47-3-204 . "Endorser." § 47-3-204 . "Holder in due course." § 47-3-302 . "Incomplete instrument." § 47-3-115 . "Instrument." § 47-3-104 . "Issue." § 47-3-105 . "Issuer." § 47-3-105 . "Negotiable instrument." § 47-3-104 . "Negotiation." § 47-3-201 . "Note." § 47-3-104 . "Payable at a definite time." § 47-3-108 . "Payable on demand." § 47-3-108 . "Payable to bearer." § 47-3-109 . "Payable to order." § 47-3-109 . "Payee-initiated demand draft." § 47-3-104 . "Payment." § 47-3-602 . "Person entitled to enforce." § 47-3-301 . "Presentment." § 47-3-501 . "Reacquisition." § 47-3-207 . "Special endorsement." § 47-3-205 . "Teller's check." § 47-3-104 . "Transfer of instrument." § 47-3-203 . "Traveler's check." § 47-3-104 . "Value." § 47-3-303 . (c) The following definitions in other chapters apply to this chapter: "Bank." § 47-4-105 . "Banking day." § 47-4-104 . "Clearing house." § 47-4-104 . "Collecting bank." § 47-4-105 . "Depositary bank." § 47-4-105 . "Documentary draft." § 47-4-104 . "Intermediary bank." § 47-4-105 . "Item." § 47-4-104 . "Payor bank." § 47-4-105 . "Suspends payments." § 47-4-104 . (d) In addition, chapter 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this chapter. Acts 1995, ch. 397, § 2; 2003 , ch. 62, § 1.
(a) In this chapter: (1) "Acceptor" means a drawee who has accepted a draft; (2) "Drawee" means a person ordered in a draft to make payment; (3) "Drawer" means a person who signs or is identified in a draft as a person ordering payment; (4) "Maker" means a person who signs or is identified in a note as a person undertaking to pay; (5) "Order" means a written instruction to pay money signed by the person giving the instruction. The instruction may be addressed to any person, including the person giving the instruction, or to one (1) or more persons jointly or in the alternative but not in succession. An authorization to pay is not an order unless the person authorized to pay is also instructed to pay; (6) "Ordinary care" in the case of a person engaged in business means observance of reasonable commercial standards, prevailing in the area in which the person is located, with respect to the business in which the person is engaged. In the case of a bank that takes an instrument for processing for collection or payment by automated means, reasonable commercial standards do not require the bank to examine the instrument if the failure to examine does not violate the bank's prescribed procedures and the bank's procedures do not vary unreasonably from general banking usage not disapproved by this chapter or chapter 4 of this title; (7) "Party" means a party to an instrument; (8) "Promise" means a written undertaking to pay money signed by the person undertaking to pay. An acknowledgment of an obligation by the obligor is not a promise unless the obligor also undertakes to pay the obligation; (9) "Prove" with respect to a fact means to meet the burden of establishing the fact (§ 47-1-201 ); and (10) "Remitter" means a person who purchases an instrument from its issuer if the instrument is payable to an identified person other than the purchaser.
(1) "Acceptor" means a drawee who has accepted a draft;
(2) "Drawee" means a person ordered in a draft to make payment;
(3) "Drawer" means a person who signs or is identified in a draft as a person ordering payment;
(4) "Maker" means a person who signs or is identified in a note as a person undertaking to pay;
(5) "Order" means a written instruction to pay money signed by the person giving the instruction. The instruction may be addressed to any person, including the person giving the instruction, or to one (1) or more persons jointly or in the alternative but not in succession. An authorization to pay is not an order unless the person authorized to pay is also instructed to pay;
(6) "Ordinary care" in the case of a person engaged in business means observance of reasonable commercial standards, prevailing in the area in which the person is located, with respect to the business in which the person is engaged. In the case of a bank that takes an instrument for processing for collection or payment by automated means, reasonable commercial standards do not require the bank to examine the instrument if the failure to examine does not violate the bank's prescribed procedures and the bank's procedures do not vary unreasonably from general banking usage not disapproved by this chapter or chapter 4 of this title;
(7) "Party" means a party to an instrument;
(8) "Promise" means a written undertaking to pay money signed by the person undertaking to pay. An acknowledgment of an obligation by the obligor is not a promise unless the obligor also undertakes to pay the obligation;
(9) "Prove" with respect to a fact means to meet the burden of establishing the fact (§ 47-1-201 ); and
(10) "Remitter" means a person who purchases an instrument from its issuer if the instrument is payable to an identified person other than the purchaser.
(b) Other definitions applying to this chapter and the sections in which they appear are: "Acceptance." § 47-3-409 . "Accommodated party." § 47-3-419 . "Accommodation party." § 47-3-419 . "Alteration." § 47-3-407 . "Anomalous endorsement." § 47-3-205 . "Blank endorsement." § 47-3-205 . "Cashier's check." § 47-3-104 . "Certificate of deposit." § 47-3-104 . "Certified check." § 47-3-409 . "Check." § 47-3-104 . "Consideration." § 47-3-303 . "Draft." § 47-3-104 . "Endorsement." § 47-3-204 . "Endorser." § 47-3-204 . "Holder in due course." § 47-3-302 . "Incomplete instrument." § 47-3-115 . "Instrument." § 47-3-104 . "Issue." § 47-3-105 . "Issuer." § 47-3-105 . "Negotiable instrument." § 47-3-104 . "Negotiation." § 47-3-201 . "Note." § 47-3-104 . "Payable at a definite time." § 47-3-108 . "Payable on demand." § 47-3-108 . "Payable to bearer." § 47-3-109 . "Payable to order." § 47-3-109 . "Payee-initiated demand draft." § 47-3-104 . "Payment." § 47-3-602 . "Person entitled to enforce." § 47-3-301 . "Presentment." § 47-3-501 . "Reacquisition." § 47-3-207 . "Special endorsement." § 47-3-205 . "Teller's check." § 47-3-104 . "Transfer of instrument." § 47-3-203 . "Traveler's check." § 47-3-104 . "Value." § 47-3-303 .
"Acceptance." § 47-3-409 .
"Accommodated party." § 47-3-419 .
"Accommodation party." § 47-3-419 .
"Alteration." § 47-3-407 .
"Anomalous endorsement." § 47-3-205 .
"Blank endorsement." § 47-3-205 .
"Cashier's check." § 47-3-104 .
"Certificate of deposit." § 47-3-104 .
"Certified check." § 47-3-409 .
"Check." § 47-3-104 .
"Consideration." § 47-3-303 .
"Draft." § 47-3-104 .
"Endorsement." § 47-3-204 .
"Endorser." § 47-3-204 .
"Holder in due course." § 47-3-302 .
"Incomplete instrument." § 47-3-115 .
"Instrument." § 47-3-104 .
"Issue." § 47-3-105 .
"Issuer." § 47-3-105 .
"Negotiable instrument." § 47-3-104 .
"Negotiation." § 47-3-201 .
"Note." § 47-3-104 .
"Payable at a definite time." § 47-3-108 .
"Payable on demand." § 47-3-108 .
"Payable to bearer." § 47-3-109 .
"Payable to order." § 47-3-109 .
"Payee-initiated demand draft." § 47-3-104 .
"Payment." § 47-3-602 .
"Person entitled to enforce." § 47-3-301 .
"Presentment." § 47-3-501 .
"Reacquisition." § 47-3-207 .
"Special endorsement." § 47-3-205 .
"Teller's check." § 47-3-104 .
"Transfer of instrument." § 47-3-203 .
"Traveler's check." § 47-3-104 .
"Value." § 47-3-303 .
(c) The following definitions in other chapters apply to this chapter: "Bank." § 47-4-105 . "Banking day." § 47-4-104 . "Clearing house." § 47-4-104 . "Collecting bank." § 47-4-105 . "Depositary bank." § 47-4-105 . "Documentary draft." § 47-4-104 . "Intermediary bank." § 47-4-105 . "Item." § 47-4-104 . "Payor bank." § 47-4-105 . "Suspends payments." § 47-4-104 .
"Bank." § 47-4-105 .
"Banking day." § 47-4-104 .
"Clearing house." § 47-4-104 .
"Collecting bank." § 47-4-105 .
"Depositary bank." § 47-4-105 .
"Documentary draft." § 47-4-104 .
"Intermediary bank." § 47-4-105 .
"Item." § 47-4-104 .
"Payor bank." § 47-4-105 .
"Suspends payments." § 47-4-104 .
(d) In addition, chapter 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this chapter.
Acts 1995, ch. 397, § 2; 2003 , ch. 62, § 1.
Tenn. Code Ann. § 47-25-201 — TN Code / Title 47 / Chapter 25 / Section 47-25-201
Short title
Status: in_force

This part may be cited as the "Unfair Sales Law." Acts 1937, ch. 69, § 6; C. Supp. 1950, § 6770.6 (Williams, § 6770.12); T.C.A. (orig. ed.), § 69-301.
This part may be cited as the "Unfair Sales Law."
Acts 1937, ch. 69, § 6; C. Supp. 1950, § 6770.6 (Williams, § 6770.12); T.C.A. (orig. ed.), § 69-301.
Tenn. Code Ann. § 47-9-614 — TN Code / Title 47 / Chapter 9 / Section 47-9-614
Contents and form of notification before disposition of collateral: Consumer-goods transaction
Status: in_force

In a consumer-goods transaction, the following rules apply: (1) A notification of disposition must provide the following information: (A) the information specified in § 47-9-613(1) ; (B) a description of any liability for a deficiency of the person to which the notification is sent; (C) a telephone number from which the amount that must be paid to the secured party to redeem the collateral under § 47-9-623 is available; and (D) a telephone number or mailing address from which additional information concerning the disposition and the obligation secured is available. (2) A particular phrasing of the notification is not required. (3) The following form of notification, when completed, provides sufficient information: ______________ [Name and address of secured party] [Date] NOTICE OF OUR PLAN TO SELL PROPERTY [Name and address of any obligor who is also a debtor] Subject: [Identification of Transaction] We have your [describe collateral], because you broke promises in our agreement. [For a public disposition:] We will sell [describe collateral] at public sale. A sale could include a lease or license. The sale will be held as follows: Date: Time: Place: You may attend the sale and bring bidders if you want. [For a private disposition:] We will sell [describe collateral] at private sale sometime after [date]. A sale could include a lease or license. The money that we get from the sale (after paying our costs) will reduce the amount you owe. If we get less money than you owe, you [will or will not, as applicable] still owe us the difference. If we get more money than you owe, you will get the extra money, unless we must pay it to someone else. You can get the property back at any time before we sell it by paying us the full amount you owe (not just the past due payments), including our expenses. To learn the exact amount you must pay, call us at [telephone number]. If you want us to explain to you in writing how we have figured the amount that you owe us, you may call us at [telephone number] [or write us at [secured party's address] ] and request a written explanation. [We will charge you $____________________ for the explanation if we sent you another written explanation of the amount you owe us within the last six (6) months.] If you need more information about the sale call us at [telephone number] [or write us at [secured party's address] ]. We are sending this notice to the following other people who have an interest in [describe collateral] or who owe money under your agreement: [Names of all other debtors and obligors, if any] [End of Form] (4) A notification in the form of paragraph (3) is sufficient, even if additional information appears at the end of the form. (5) A notification in the form of paragraph (3) is sufficient, even if it includes errors in information not required by paragraph (1), unless the error is misleading with respect to rights arising under this chapter. (6) If a notification under this section is not in the form of paragraph (3), law other than this chapter determines the effect of including information not required by paragraph (1). Acts 2000, ch. 846, § 1.
In a consumer-goods transaction, the following rules apply:
(1) A notification of disposition must provide the following information: (A) the information specified in § 47-9-613(1) ; (B) a description of any liability for a deficiency of the person to which the notification is sent; (C) a telephone number from which the amount that must be paid to the secured party to redeem the collateral under § 47-9-623 is available; and (D) a telephone number or mailing address from which additional information concerning the disposition and the obligation secured is available.
(A) the information specified in § 47-9-613(1) ;
(B) a description of any liability for a deficiency of the person to which the notification is sent;
(C) a telephone number from which the amount that must be paid to the secured party to redeem the collateral under § 47-9-623 is available; and
(D) a telephone number or mailing address from which additional information concerning the disposition and the obligation secured is available.
(2) A particular phrasing of the notification is not required.
(3) The following form of notification, when completed, provides sufficient information: ______________ [Name and address of secured party] [Date] NOTICE OF OUR PLAN TO SELL PROPERTY [Name and address of any obligor who is also a debtor] Subject: [Identification of Transaction] We have your [describe collateral], because you broke promises in our agreement. [For a public disposition:] We will sell [describe collateral] at public sale. A sale could include a lease or license. The sale will be held as follows: Date: Time: Place: You may attend the sale and bring bidders if you want. [For a private disposition:] We will sell [describe collateral] at private sale sometime after [date]. A sale could include a lease or license. The money that we get from the sale (after paying our costs) will reduce the amount you owe. If we get less money than you owe, you [will or will not, as applicable] still owe us the difference. If we get more money than you owe, you will get the extra money, unless we must pay it to someone else. You can get the property back at any time before we sell it by paying us the full amount you owe (not just the past due payments), including our expenses. To learn the exact amount you must pay, call us at [telephone number]. If you want us to explain to you in writing how we have figured the amount that you owe us, you may call us at [telephone number] [or write us at [secured party's address] ] and request a written explanation. [We will charge you $____________________ for the explanation if we sent you another written explanation of the amount you owe us within the last six (6) months.] If you need more information about the sale call us at [telephone number] [or write us at [secured party's address] ]. We are sending this notice to the following other people who have an interest in [describe collateral] or who owe money under your agreement: [Names of all other debtors and obligors, if any] [End of Form]
______________ [Name and address of secured party]
[Date]
NOTICE OF OUR PLAN TO SELL PROPERTY
[Name and address of any obligor who is also a debtor]
Subject: [Identification of Transaction]
We have your [describe collateral], because you broke promises in our agreement.
[For a public disposition:]
We will sell [describe collateral] at public sale. A sale could include a lease or license. The sale will be held as follows:
Date:
Time:
Place:
You may attend the sale and bring bidders if you want.
[For a private disposition:]
We will sell [describe collateral] at private sale sometime after [date]. A sale could include a lease or license.
The money that we get from the sale (after paying our costs) will reduce the amount you owe. If we get less money than you owe, you [will or will not, as applicable] still owe us the difference. If we get more money than you owe, you will get the extra money, unless we must pay it to someone else.
You can get the property back at any time before we sell it by paying us the full amount you owe (not just the past due payments), including our expenses. To learn the exact amount you must pay, call us at [telephone number].
If you want us to explain to you in writing how we have figured the amount that you owe us, you may call us at [telephone number] [or write us at [secured party's address] ] and request a written explanation. [We will charge you $____________________ for the explanation if we sent you another written explanation of the amount you owe us within the last six (6) months.]
If you need more information about the sale call us at [telephone number] [or write us at [secured party's address] ].
We are sending this notice to the following other people who have an interest in [describe collateral] or who owe money under your agreement:
[Names of all other debtors and obligors, if any]
[End of Form]
(4) A notification in the form of paragraph (3) is sufficient, even if additional information appears at the end of the form.
(5) A notification in the form of paragraph (3) is sufficient, even if it includes errors in information not required by paragraph (1), unless the error is misleading with respect to rights arising under this chapter.
(6) If a notification under this section is not in the form of paragraph (3), law other than this chapter determines the effect of including information not required by paragraph (1).
Acts 2000, ch. 846, § 1.
Tenn. Code Ann. § 47-9-203 — TN Code / Title 47 / Chapter 9 / Section 47-9-203
Attachment and enforceability of security interest - Proceeds - Supporting obligations; formal requisites
Status: in_force

(a) Attachment. A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement expressly postpones the time of attachment. (b) Enforceability. Except as otherwise provided in subsections (c) through (i), a security interest is enforceable against the debtor and third parties with respect to the collateral only if: (1) value has been given; (2) the debtor has rights in the collateral or the power to transfer rights in the collateral to a secured party; and (3) one (1) of the following conditions is met: (A) the debtor has authenticated a security agreement that provides a description of the collateral and, if the security interest covers timber to be cut, a description of the land concerned; (B) the collateral is not a certificated security and is in the possession of the secured party under § 47-9-313 pursuant to the debtor's security agreement; (C) the collateral is a certificated security in registered form and the security certificate has been delivered to the secured party under § 47-8-301 pursuant to the debtor's security agreement; or (D) the collateral is deposit accounts, electronic chattel paper, investment property, or letter-of-credit rights, or electronic documents, and the secured party has control under § 47-7-106 , § 47-9-104 , § 47-9-105 , § 47-9-106 , or § 47-9-107 pursuant to the debtor's security agreement. (c) Other UCC provisions. Subsection (b) is subject to § 47-4-210 on the security interest of a collecting bank, § 47-5-118 on the security interest of a letter-of-credit issuer or nominated person, § 47-9-110 on a security interest arising under Chapter 2 or 2A, and § 47-9-206 on security interests in investment property. (d) When person becomes bound by another person's security agreement. A person becomes bound as debtor by a security agreement entered into by another person if, by operation of law other than this chapter or by contract: (1) the security agreement becomes effective to create a security interest in the person's property; or (2) the person becomes generally obligated for the obligations of the other person, including the obligation secured under the security agreement, and acquires or succeeds to all or substantially all of the assets of the other person. (e) Effect of new debtor becoming bound. If a new debtor becomes bound as debtor by a security agreement entered into by another person: (1) the agreement satisfies subsection (b)(3) with respect to existing or after-acquired property of the new debtor to the extent the property is described in the agreement; and (2) another agreement is not necessary to make a security interest in the property enforceable. (f) Proceeds and supporting obligations. The attachment of a security interest in collateral gives the secured party the rights to proceeds provided by § 47-9-315 and is also attachment of a security interest in a supporting obligation for the collateral. (g) Lien securing right to payment. The attachment of a security interest in a right to payment or performance secured by a security interest or other lien on personal or real property is also attachment of a security interest in the security interest, mortgage, or other lien. (h) Security entitlement carried in securities account. The attachment of a security interest in a securities account is also attachment of a security interest in the security entitlements carried in the securities account. (i) Commodity contracts carried in commodity account. The attachment of a security interest in a commodity account is also attachment of a security interest in the commodity contracts carried in the commodity account. Acts 2000, ch. 846, § 1; 2008 , ch. 814, § 26.
(a) Attachment. A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement expressly postpones the time of attachment.
(b) Enforceability. Except as otherwise provided in subsections (c) through (i), a security interest is enforceable against the debtor and third parties with respect to the collateral only if: (1) value has been given; (2) the debtor has rights in the collateral or the power to transfer rights in the collateral to a secured party; and (3) one (1) of the following conditions is met: (A) the debtor has authenticated a security agreement that provides a description of the collateral and, if the security interest covers timber to be cut, a description of the land concerned; (B) the collateral is not a certificated security and is in the possession of the secured party under § 47-9-313 pursuant to the debtor's security agreement; (C) the collateral is a certificated security in registered form and the security certificate has been delivered to the secured party under § 47-8-301 pursuant to the debtor's security agreement; or (D) the collateral is deposit accounts, electronic chattel paper, investment property, or letter-of-credit rights, or electronic documents, and the secured party has control under § 47-7-106 , § 47-9-104 , § 47-9-105 , § 47-9-106 , or § 47-9-107 pursuant to the debtor's security agreement.
(1) value has been given;
(2) the debtor has rights in the collateral or the power to transfer rights in the collateral to a secured party; and
(3) one (1) of the following conditions is met: (A) the debtor has authenticated a security agreement that provides a description of the collateral and, if the security interest covers timber to be cut, a description of the land concerned; (B) the collateral is not a certificated security and is in the possession of the secured party under § 47-9-313 pursuant to the debtor's security agreement; (C) the collateral is a certificated security in registered form and the security certificate has been delivered to the secured party under § 47-8-301 pursuant to the debtor's security agreement; or (D) the collateral is deposit accounts, electronic chattel paper, investment property, or letter-of-credit rights, or electronic documents, and the secured party has control under § 47-7-106 , § 47-9-104 , § 47-9-105 , § 47-9-106 , or § 47-9-107 pursuant to the debtor's security agreement.
(A) the debtor has authenticated a security agreement that provides a description of the collateral and, if the security interest covers timber to be cut, a description of the land concerned;
(B) the collateral is not a certificated security and is in the possession of the secured party under § 47-9-313 pursuant to the debtor's security agreement;
(C) the collateral is a certificated security in registered form and the security certificate has been delivered to the secured party under § 47-8-301 pursuant to the debtor's security agreement; or
(D) the collateral is deposit accounts, electronic chattel paper, investment property, or letter-of-credit rights, or electronic documents, and the secured party has control under § 47-7-106 , § 47-9-104 , § 47-9-105 , § 47-9-106 , or § 47-9-107 pursuant to the debtor's security agreement.
(c) Other UCC provisions. Subsection (b) is subject to § 47-4-210 on the security interest of a collecting bank, § 47-5-118 on the security interest of a letter-of-credit issuer or nominated person, § 47-9-110 on a security interest arising under Chapter 2 or 2A, and § 47-9-206 on security interests in investment property.
(d) When person becomes bound by another person's security agreement. A person becomes bound as debtor by a security agreement entered into by another person if, by operation of law other than this chapter or by contract: (1) the security agreement becomes effective to create a security interest in the person's property; or (2) the person becomes generally obligated for the obligations of the other person, including the obligation secured under the security agreement, and acquires or succeeds to all or substantially all of the assets of the other person.
(1) the security agreement becomes effective to create a security interest in the person's property; or
(2) the person becomes generally obligated for the obligations of the other person, including the obligation secured under the security agreement, and acquires or succeeds to all or substantially all of the assets of the other person.
(e) Effect of new debtor becoming bound. If a new debtor becomes bound as debtor by a security agreement entered into by another person: (1) the agreement satisfies subsection (b)(3) with respect to existing or after-acquired property of the new debtor to the extent the property is described in the agreement; and (2) another agreement is not necessary to make a security interest in the property enforceable.
(1) the agreement satisfies subsection (b)(3) with respect to existing or after-acquired property of the new debtor to the extent the property is described in the agreement; and
(2) another agreement is not necessary to make a security interest in the property enforceable.
(f) Proceeds and supporting obligations. The attachment of a security interest in collateral gives the secured party the rights to proceeds provided by § 47-9-315 and is also attachment of a security interest in a supporting obligation for the collateral.
(g) Lien securing right to payment. The attachment of a security interest in a right to payment or performance secured by a security interest or other lien on personal or real property is also attachment of a security interest in the security interest, mortgage, or other lien.
(h) Security entitlement carried in securities account. The attachment of a security interest in a securities account is also attachment of a security interest in the security entitlements carried in the securities account.
(i) Commodity contracts carried in commodity account. The attachment of a security interest in a commodity account is also attachment of a security interest in the commodity contracts carried in the commodity account.
Acts 2000, ch. 846, § 1; 2008 , ch. 814, § 26.
Tenn. Code Ann. § 47-2a-529 — TN Code / Title 47 / Chapter 2a / Section 47-2a-529
2024 Tennessee Code Title 47 - COMMERCIAL INSTRUMENTS AND TRANSACTIONS (§§ 47-1-101 — 47-50-121) Chapter 2A - LEASES (§§ 47-2A-101 — 47-2A-532) Part 5 - DEFAULT (§§ 47-2A-501 — 47-2A-532) C. DEFAULT BY LESSEE (§§ 47-2A-523 — 47-2A-532) Section 47-2A-529 - Lessor's action for the rent
Status: in_force

(1) After default by the lessee under the lease contract of the type described in § 47-2A-523(1) or § 47-2A-523(3)(a) or, if agreed, after other default by the lessee, if the lessor complies with subsection (2), the lessor may recover from the lessee as damages: (a) for goods accepted by the lessee and not repossessed by or tendered to the lessor, and for conforming goods lost or damaged within a commercially reasonable time after risk of loss passes to the lessee (§ 47-2A-219 ), (i) accrued and unpaid rent as of the date of entry of judgment in favor of the lessor, (ii) the present value as of the same date of the rent for the then remaining lease term of the lease agreement, and (iii) any incidental damages allowed under § 47-2A-530 , less expenses saved in consequence of the lessee's default; and (b) for goods identified to the lease contract if the lessor is unable after reasonable effort to dispose of them at a reasonable price or the circumstances reasonably indicate that effort will be unavailing, (i) accrued and unpaid rent as of the date of entry of judgment in favor of the lessor, (ii) the present value as of the same date of the rent for the then remaining lease term of the lease agreement, and (iii) any incidental damages allowed under § 47-2A-530 , less expenses saved in consequence of the lessee's default. (2) Except as provided in subsection (3), the lessor shall hold for the lessee for the remaining lease term of the lease agreement any goods that have been identified to the lease contract and are in the lessor's control. (3) The lessor may dispose of the goods at any time before collection of the judgment for damages obtained pursuant to subsection (1). If the disposition is before the end of the remaining lease term of the lease agreement, the lessor's recovery against the lessee for damages is governed by § 47-2A-527 or § 47-2A-528 , and the lessor will cause an appropriate credit to be provided against a judgment for damages to the extent that the amount of the judgment exceeds the recovery available pursuant to § 47-2A-527 or § 47-2A-528 . (4) Payment of the judgment for damages obtained pursuant to subsection (1) entitles the lessee to the use and possession of the goods not then disposed of for the remaining lease term of and in accordance with the lease agreement. (5) After default by the lessee under the lease contract of the type described in § 47-2A-523(1) or § 47-2A-523(3)(a) or, if agreed, after other default by the lessee, a lessor who is held not entitled to rent under this section must nevertheless be awarded damages for non-acceptance under § 47-2A-527 or § 47-2A-528 . Acts 1993, ch. 398, § 1.
(1) After default by the lessee under the lease contract of the type described in § 47-2A-523(1) or § 47-2A-523(3)(a) or, if agreed, after other default by the lessee, if the lessor complies with subsection (2), the lessor may recover from the lessee as damages: (a) for goods accepted by the lessee and not repossessed by or tendered to the lessor, and for conforming goods lost or damaged within a commercially reasonable time after risk of loss passes to the lessee (§ 47-2A-219 ), (i) accrued and unpaid rent as of the date of entry of judgment in favor of the lessor, (ii) the present value as of the same date of the rent for the then remaining lease term of the lease agreement, and (iii) any incidental damages allowed under § 47-2A-530 , less expenses saved in consequence of the lessee's default; and (b) for goods identified to the lease contract if the lessor is unable after reasonable effort to dispose of them at a reasonable price or the circumstances reasonably indicate that effort will be unavailing, (i) accrued and unpaid rent as of the date of entry of judgment in favor of the lessor, (ii) the present value as of the same date of the rent for the then remaining lease term of the lease agreement, and (iii) any incidental damages allowed under § 47-2A-530 , less expenses saved in consequence of the lessee's default.
(a) for goods accepted by the lessee and not repossessed by or tendered to the lessor, and for conforming goods lost or damaged within a commercially reasonable time after risk of loss passes to the lessee (§ 47-2A-219 ), (i) accrued and unpaid rent as of the date of entry of judgment in favor of the lessor, (ii) the present value as of the same date of the rent for the then remaining lease term of the lease agreement, and (iii) any incidental damages allowed under § 47-2A-530 , less expenses saved in consequence of the lessee's default; and
(b) for goods identified to the lease contract if the lessor is unable after reasonable effort to dispose of them at a reasonable price or the circumstances reasonably indicate that effort will be unavailing, (i) accrued and unpaid rent as of the date of entry of judgment in favor of the lessor, (ii) the present value as of the same date of the rent for the then remaining lease term of the lease agreement, and (iii) any incidental damages allowed under § 47-2A-530 , less expenses saved in consequence of the lessee's default.
(2) Except as provided in subsection (3), the lessor shall hold for the lessee for the remaining lease term of the lease agreement any goods that have been identified to the lease contract and are in the lessor's control.
(3) The lessor may dispose of the goods at any time before collection of the judgment for damages obtained pursuant to subsection (1). If the disposition is before the end of the remaining lease term of the lease agreement, the lessor's recovery against the lessee for damages is governed by § 47-2A-527 or § 47-2A-528 , and the lessor will cause an appropriate credit to be provided against a judgment for damages to the extent that the amount of the judgment exceeds the recovery available pursuant to § 47-2A-527 or § 47-2A-528 .
(4) Payment of the judgment for damages obtained pursuant to subsection (1) entitles the lessee to the use and possession of the goods not then disposed of for the remaining lease term of and in accordance with the lease agreement.
(5) After default by the lessee under the lease contract of the type described in § 47-2A-523(1) or § 47-2A-523(3)(a) or, if agreed, after other default by the lessee, a lessor who is held not entitled to rent under this section must nevertheless be awarded damages for non-acceptance under § 47-2A-527 or § 47-2A-528 .
Acts 1993, ch. 398, § 1.
Tenn. Code Ann. § 47-18-5501 — TN Code / Title 47 / Chapter 18 / Section 47-18-5501
Short title
Status: in_force

This part shall be known and may be cited as the "Uniform Debt-Management Services Act." Acts 2009, ch. 469, § 1.
This part shall be known and may be cited as the "Uniform Debt-Management Services Act."
Acts 2009, ch. 469, § 1.
Tenn. Code Ann. § 47-9-101 — TN Code / Title 47 / Chapter 9 / Section 47-9-101
Short title
Status: in_force

This chapter may be cited as "Uniform Commercial Code - Secured Transactions." Acts 2000, ch. 846, § 1.
This chapter may be cited as "Uniform Commercial Code - Secured Transactions."
Acts 2000, ch. 846, § 1.
Tenn. Code Ann. § 47-18-1307 — TN Code / Title 47 / Chapter 18 / Section 47-18-1307
Sanctions for violations - Penalties
Status: in_force

(a) (1) If a person or the person's agent or employee conveys, or offers to convey, kerosene or motor fuel in violation of § 47-18-1304 , then the person shall be subject to an administrative fine, to issuance of a stop-sale order, or to both, in the discretion of the commissioner. A stop-sale order shall be issued by the commissioner either as a Class One stop-sale order or as a Class Two stop-sale order. A Class One stop-sale order shall be issued for a specified period of time. A Class Two stop-sale order shall be issued until conditions identified within the order have been remedied. (2) (A) A Class One stop-sale order may not be issued by the commissioner for a specified period greater than twenty-four (24) hours unless the violation: (i) Threatens public health or safety; (ii) Is knowingly and intentionally committed; or (iii) Reflects a continuing and repetitive pattern of disregard for the requirements of § 47-18-1304 . (B) A Class One stop-sale order duly issued by the commissioner for a specified period greater than twenty-four (24) hours may be issued for any period not in excess of two hundred forty (240) hours. (3) (A) An administrative fine may not be assessed by the commissioner in an amount greater than one thousand dollars ($1,000) unless the violation: (i) Threatens public health or safety; (ii) Is knowingly and intentionally committed; or (iii) Reflects a continuing and repetitive pattern of disregard for the requirements of § 47-18-1304 . (B) An administrative fine duly assessed by the commissioner in an amount greater than one thousand dollars ($1,000) may be assessed for any amount not in excess of ten thousand dollars ($10,000). (b) (1) If a person who conveys kerosene or motor fuel for consumption in Tennessee, or an agent or employee of such person, refuses during regular business hours to promptly provide, upon request, a sample for inspection and testing, then the refusal shall constitute a knowing and intentional violation of § 47-18-1304 , and the person shall be subject to imposition of the appropriate penalties set forth in subsection (a). (2) If a person who conveys kerosene or motor fuel for consumption in Tennessee, or an agent or employee of such person, interferes or attempts to interfere with the reasonable efforts of a field inspector or departmental official or employee to perform any duty or responsibility assigned pursuant to this part, then the interference or attempted interference shall constitute a knowing and intentional violation of § 47-18-1304 , and the person shall be subject to imposition of the appropriate penalties set forth in subsection (a). (3) If a person who conveys kerosene or motor fuel for consumption in Tennessee fails to register with the department as required by § 47-18-1304 , then the person shall be subject to imposition of the penalties set forth in subsection (a). (4) If a person who conveys kerosene or motor fuel for consumption in Tennessee violates a rule duly promulgated by the department under the authority of this part, then the violation shall constitute a violation of § 47-18-1304 and shall be subject to imposition of the penalties set forth in subsection (a). (c) If a person unknowingly receives kerosene or motor fuel that does not comply with the requirements of § 47-18-1304 , and if as a result thereof the person is sanctioned pursuant to this section, then such person shall have the right to proceed in civil court to collect damages from those persons who, in violation of § 47-18-1304 , conveyed the kerosene or motor fuel for consumption in Tennessee. Acts 1989, ch. 397, § 7.
(a) (1) If a person or the person's agent or employee conveys, or offers to convey, kerosene or motor fuel in violation of § 47-18-1304 , then the person shall be subject to an administrative fine, to issuance of a stop-sale order, or to both, in the discretion of the commissioner. A stop-sale order shall be issued by the commissioner either as a Class One stop-sale order or as a Class Two stop-sale order. A Class One stop-sale order shall be issued for a specified period of time. A Class Two stop-sale order shall be issued until conditions identified within the order have been remedied. (2) (A) A Class One stop-sale order may not be issued by the commissioner for a specified period greater than twenty-four (24) hours unless the violation: (i) Threatens public health or safety; (ii) Is knowingly and intentionally committed; or (iii) Reflects a continuing and repetitive pattern of disregard for the requirements of § 47-18-1304 . (B) A Class One stop-sale order duly issued by the commissioner for a specified period greater than twenty-four (24) hours may be issued for any period not in excess of two hundred forty (240) hours. (3) (A) An administrative fine may not be assessed by the commissioner in an amount greater than one thousand dollars ($1,000) unless the violation: (i) Threatens public health or safety; (ii) Is knowingly and intentionally committed; or (iii) Reflects a continuing and repetitive pattern of disregard for the requirements of § 47-18-1304 . (B) An administrative fine duly assessed by the commissioner in an amount greater than one thousand dollars ($1,000) may be assessed for any amount not in excess of ten thousand dollars ($10,000).
(1) If a person or the person's agent or employee conveys, or offers to convey, kerosene or motor fuel in violation of § 47-18-1304 , then the person shall be subject to an administrative fine, to issuance of a stop-sale order, or to both, in the discretion of the commissioner. A stop-sale order shall be issued by the commissioner either as a Class One stop-sale order or as a Class Two stop-sale order. A Class One stop-sale order shall be issued for a specified period of time. A Class Two stop-sale order shall be issued until conditions identified within the order have been remedied.
(2) (A) A Class One stop-sale order may not be issued by the commissioner for a specified period greater than twenty-four (24) hours unless the violation: (i) Threatens public health or safety; (ii) Is knowingly and intentionally committed; or (iii) Reflects a continuing and repetitive pattern of disregard for the requirements of § 47-18-1304 . (B) A Class One stop-sale order duly issued by the commissioner for a specified period greater than twenty-four (24) hours may be issued for any period not in excess of two hundred forty (240) hours.
(A) A Class One stop-sale order may not be issued by the commissioner for a specified period greater than twenty-four (24) hours unless the violation: (i) Threatens public health or safety; (ii) Is knowingly and intentionally committed; or (iii) Reflects a continuing and repetitive pattern of disregard for the requirements of § 47-18-1304 .
(i) Threatens public health or safety;
(ii) Is knowingly and intentionally committed; or
(iii) Reflects a continuing and repetitive pattern of disregard for the requirements of § 47-18-1304 .
(B) A Class One stop-sale order duly issued by the commissioner for a specified period greater than twenty-four (24) hours may be issued for any period not in excess of two hundred forty (240) hours.
(3) (A) An administrative fine may not be assessed by the commissioner in an amount greater than one thousand dollars ($1,000) unless the violation: (i) Threatens public health or safety; (ii) Is knowingly and intentionally committed; or (iii) Reflects a continuing and repetitive pattern of disregard for the requirements of § 47-18-1304 . (B) An administrative fine duly assessed by the commissioner in an amount greater than one thousand dollars ($1,000) may be assessed for any amount not in excess of ten thousand dollars ($10,000).
(A) An administrative fine may not be assessed by the commissioner in an amount greater than one thousand dollars ($1,000) unless the violation: (i) Threatens public health or safety; (ii) Is knowingly and intentionally committed; or (iii) Reflects a continuing and repetitive pattern of disregard for the requirements of § 47-18-1304 .
(i) Threatens public health or safety;
(ii) Is knowingly and intentionally committed; or
(iii) Reflects a continuing and repetitive pattern of disregard for the requirements of § 47-18-1304 .
(B) An administrative fine duly assessed by the commissioner in an amount greater than one thousand dollars ($1,000) may be assessed for any amount not in excess of ten thousand dollars ($10,000).
(b) (1) If a person who conveys kerosene or motor fuel for consumption in Tennessee, or an agent or employee of such person, refuses during regular business hours to promptly provide, upon request, a sample for inspection and testing, then the refusal shall constitute a knowing and intentional violation of § 47-18-1304 , and the person shall be subject to imposition of the appropriate penalties set forth in subsection (a). (2) If a person who conveys kerosene or motor fuel for consumption in Tennessee, or an agent or employee of such person, interferes or attempts to interfere with the reasonable efforts of a field inspector or departmental official or employee to perform any duty or responsibility assigned pursuant to this part, then the interference or attempted interference shall constitute a knowing and intentional violation of § 47-18-1304 , and the person shall be subject to imposition of the appropriate penalties set forth in subsection (a). (3) If a person who conveys kerosene or motor fuel for consumption in Tennessee fails to register with the department as required by § 47-18-1304 , then the person shall be subject to imposition of the penalties set forth in subsection (a). (4) If a person who conveys kerosene or motor fuel for consumption in Tennessee violates a rule duly promulgated by the department under the authority of this part, then the violation shall constitute a violation of § 47-18-1304 and shall be subject to imposition of the penalties set forth in subsection (a).
(1) If a person who conveys kerosene or motor fuel for consumption in Tennessee, or an agent or employee of such person, refuses during regular business hours to promptly provide, upon request, a sample for inspection and testing, then the refusal shall constitute a knowing and intentional violation of § 47-18-1304 , and the person shall be subject to imposition of the appropriate penalties set forth in subsection (a).
(2) If a person who conveys kerosene or motor fuel for consumption in Tennessee, or an agent or employee of such person, interferes or attempts to interfere with the reasonable efforts of a field inspector or departmental official or employee to perform any duty or responsibility assigned pursuant to this part, then the interference or attempted interference shall constitute a knowing and intentional violation of § 47-18-1304 , and the person shall be subject to imposition of the appropriate penalties set forth in subsection (a).
(3) If a person who conveys kerosene or motor fuel for consumption in Tennessee fails to register with the department as required by § 47-18-1304 , then the person shall be subject to imposition of the penalties set forth in subsection (a).
(4) If a person who conveys kerosene or motor fuel for consumption in Tennessee violates a rule duly promulgated by the department under the authority of this part, then the violation shall constitute a violation of § 47-18-1304 and shall be subject to imposition of the penalties set forth in subsection (a).
(c) If a person unknowingly receives kerosene or motor fuel that does not comply with the requirements of § 47-18-1304 , and if as a result thereof the person is sanctioned pursuant to this section, then such person shall have the right to proceed in civil court to collect damages from those persons who, in violation of § 47-18-1304 , conveyed the kerosene or motor fuel for consumption in Tennessee.
Acts 1989, ch. 397, § 7.
Tenn. Code Ann. § 47-18-5303 — TN Code / Title 47 / Chapter 18 / Section 47-18-5303
Prohibited musical performance or production
Status: in_force

No person shall advertise or conduct a live musical performance or production in this state through the use of a false, deceptive, or misleading affiliation, connection, or association, between a performing group and a recording group. The prohibition contained in this section does not apply if: (1) The performing group is the authorized registrant and owner of a federal service mark for that group registered in the United States patent and trademark office; (2) At least one (1) member of the performing group was a member of the recording group and has a legal right by virtue of use or operation under the group name without having abandoned the name or affiliation with the group; (3) The live musical performance or production is identified in all advertising and promotion as a salute or tribute, and the name of the vocal or instrumental group performing is not so closely related or similar to that used by the recording group that it would tend to confuse or mislead the public; (4) The advertising does not relate to a live musical performance or production taking place in this state; or (5) The performance or production is expressly authorized by the performing group. Acts 2007, ch. 277, § 1.
No person shall advertise or conduct a live musical performance or production in this state through the use of a false, deceptive, or misleading affiliation, connection, or association, between a performing group and a recording group. The prohibition contained in this section does not apply if:
(1) The performing group is the authorized registrant and owner of a federal service mark for that group registered in the United States patent and trademark office;
(2) At least one (1) member of the performing group was a member of the recording group and has a legal right by virtue of use or operation under the group name without having abandoned the name or affiliation with the group;
(3) The live musical performance or production is identified in all advertising and promotion as a salute or tribute, and the name of the vocal or instrumental group performing is not so closely related or similar to that used by the recording group that it would tend to confuse or mislead the public;
(4) The advertising does not relate to a live musical performance or production taking place in this state; or
(5) The performance or production is expressly authorized by the performing group.
Acts 2007, ch. 277, § 1.
Tenn. Code Ann. § 47-9-615 — TN Code / Title 47 / Chapter 9 / Section 47-9-615
Application of proceeds of disposition - Liability for deficiency and right to surplus
Status: in_force

(a) Application of proceeds. A secured party shall apply or pay over for application the cash proceeds of disposition under § 47-9-610 in the following order to: (1) the reasonable expenses of retaking, holding, preparing for disposition, processing, and disposing, and, to the extent provided for by agreement and not prohibited by law, reasonable attorney's fees and legal expenses incurred by the secured party; (2) the satisfaction of obligations secured by the security interest or agricultural lien under which the disposition is made; (3) the satisfaction of obligations secured by any subordinate security interest in or other subordinate lien on the collateral if: (A) the secured party receives from the holder of the subordinate security interest or other lien an authenticated demand for proceeds before distribution of the proceeds is completed; and (B) in a case in which a consignor has an interest in the collateral, the subordinate security interest or other lien is senior to the interest of the consignor; and (4) a secured party that is a consignor of the collateral if the secured party receives from the consignor an authenticated demand for proceeds before distribution of the proceeds is completed. (b) Proof of subordinate interest. If requested by a secured party, a holder of a subordinate security interest or other lien shall furnish reasonable proof of the interest or lien within a reasonable time. Unless the holder does so, the secured party need not comply with the holder's demand under subdivision (a)(3). (c) Application of noncash proceeds. A secured party need not apply or pay over for application noncash proceeds of disposition under § 47-9-610 unless the failure to do so would be commercially unreasonable. A secured party that applies or pays over for application noncash proceeds shall do so in a commercially reasonable manner. (d) Surplus or deficiency if obligation secured. If the security interest under which a disposition is made secures payment or performance of an obligation, after making the payments and applications required by subsection (a) and permitted by subsection (c): (1) unless subdivision (a)(4) requires the secured party to apply or pay over cash proceeds to a consignor, the secured party shall account to and pay a debtor for any surplus; and (2) the obligor is liable for any deficiency. (e) No surplus or deficiency in sales of certain rights to payment. If the underlying transaction is a sale of accounts, chattel paper, payment intangibles, or promissory notes: (1) the debtor is not entitled to any surplus; and (2) the obligor is not liable for any deficiency. (f) Calculation of surplus or deficiency in disposition to person related to secured party. The surplus or deficiency following a disposition is calculated based on the amount of proceeds that would have been realized in a disposition complying with this part to a transferee other than the secured party, a person related to the secured party, or a secondary obligor if: (1) the transferee in the disposition is the secured party, a person related to the secured party, or a secondary obligor; and (2) the amount of proceeds of the disposition is significantly below the range of proceeds that a complying disposition to a person other than the secured party, a person related to the secured party, or a secondary obligor would have brought. (g) Cash proceeds received by junior secured party. A secured party that receives cash proceeds of a disposition in good faith and without knowledge that the receipt violates the rights of the holder of a security interest or other lien that is not subordinate to the security interest or agricultural lien under which the disposition is made: (1) takes the cash proceeds free of the security interest or other lien; (2) is not obligated to apply the proceeds of the disposition to the satisfaction of obligations secured by the security interest or other lien; and (3) is not obligated to account to or pay the holder of the security interest or other lien for any surplus. Acts 2000, ch. 846, § 1.
(a) Application of proceeds. A secured party shall apply or pay over for application the cash proceeds of disposition under § 47-9-610 in the following order to: (1) the reasonable expenses of retaking, holding, preparing for disposition, processing, and disposing, and, to the extent provided for by agreement and not prohibited by law, reasonable attorney's fees and legal expenses incurred by the secured party; (2) the satisfaction of obligations secured by the security interest or agricultural lien under which the disposition is made; (3) the satisfaction of obligations secured by any subordinate security interest in or other subordinate lien on the collateral if: (A) the secured party receives from the holder of the subordinate security interest or other lien an authenticated demand for proceeds before distribution of the proceeds is completed; and (B) in a case in which a consignor has an interest in the collateral, the subordinate security interest or other lien is senior to the interest of the consignor; and (4) a secured party that is a consignor of the collateral if the secured party receives from the consignor an authenticated demand for proceeds before distribution of the proceeds is completed.
(1) the reasonable expenses of retaking, holding, preparing for disposition, processing, and disposing, and, to the extent provided for by agreement and not prohibited by law, reasonable attorney's fees and legal expenses incurred by the secured party;
(2) the satisfaction of obligations secured by the security interest or agricultural lien under which the disposition is made;
(3) the satisfaction of obligations secured by any subordinate security interest in or other subordinate lien on the collateral if: (A) the secured party receives from the holder of the subordinate security interest or other lien an authenticated demand for proceeds before distribution of the proceeds is completed; and (B) in a case in which a consignor has an interest in the collateral, the subordinate security interest or other lien is senior to the interest of the consignor; and
(A) the secured party receives from the holder of the subordinate security interest or other lien an authenticated demand for proceeds before distribution of the proceeds is completed; and
(B) in a case in which a consignor has an interest in the collateral, the subordinate security interest or other lien is senior to the interest of the consignor; and
(4) a secured party that is a consignor of the collateral if the secured party receives from the consignor an authenticated demand for proceeds before distribution of the proceeds is completed.
(b) Proof of subordinate interest. If requested by a secured party, a holder of a subordinate security interest or other lien shall furnish reasonable proof of the interest or lien within a reasonable time. Unless the holder does so, the secured party need not comply with the holder's demand under subdivision (a)(3).
(c) Application of noncash proceeds. A secured party need not apply or pay over for application noncash proceeds of disposition under § 47-9-610 unless the failure to do so would be commercially unreasonable. A secured party that applies or pays over for application noncash proceeds shall do so in a commercially reasonable manner.
(d) Surplus or deficiency if obligation secured. If the security interest under which a disposition is made secures payment or performance of an obligation, after making the payments and applications required by subsection (a) and permitted by subsection (c): (1) unless subdivision (a)(4) requires the secured party to apply or pay over cash proceeds to a consignor, the secured party shall account to and pay a debtor for any surplus; and (2) the obligor is liable for any deficiency.
(1) unless subdivision (a)(4) requires the secured party to apply or pay over cash proceeds to a consignor, the secured party shall account to and pay a debtor for any surplus; and
(2) the obligor is liable for any deficiency.
(e) No surplus or deficiency in sales of certain rights to payment. If the underlying transaction is a sale of accounts, chattel paper, payment intangibles, or promissory notes: (1) the debtor is not entitled to any surplus; and (2) the obligor is not liable for any deficiency.
(1) the debtor is not entitled to any surplus; and
(2) the obligor is not liable for any deficiency.
(f) Calculation of surplus or deficiency in disposition to person related to secured party. The surplus or deficiency following a disposition is calculated based on the amount of proceeds that would have been realized in a disposition complying with this part to a transferee other than the secured party, a person related to the secured party, or a secondary obligor if: (1) the transferee in the disposition is the secured party, a person related to the secured party, or a secondary obligor; and (2) the amount of proceeds of the disposition is significantly below the range of proceeds that a complying disposition to a person other than the secured party, a person related to the secured party, or a secondary obligor would have brought.
(1) the transferee in the disposition is the secured party, a person related to the secured party, or a secondary obligor; and
(2) the amount of proceeds of the disposition is significantly below the range of proceeds that a complying disposition to a person other than the secured party, a person related to the secured party, or a secondary obligor would have brought.
(g) Cash proceeds received by junior secured party. A secured party that receives cash proceeds of a disposition in good faith and without knowledge that the receipt violates the rights of the holder of a security interest or other lien that is not subordinate to the security interest or agricultural lien under which the disposition is made: (1) takes the cash proceeds free of the security interest or other lien; (2) is not obligated to apply the proceeds of the disposition to the satisfaction of obligations secured by the security interest or other lien; and (3) is not obligated to account to or pay the holder of the security interest or other lien for any surplus.
(1) takes the cash proceeds free of the security interest or other lien;
(2) is not obligated to apply the proceeds of the disposition to the satisfaction of obligations secured by the security interest or other lien; and
(3) is not obligated to account to or pay the holder of the security interest or other lien for any surplus.
Acts 2000, ch. 846, § 1.
Tenn. Code Ann. § 47-32-101 — TN Code / Title 47 / Chapter 32 / Section 47-32-101
Short title
Status: in_force

This chapter shall be known and may be cited as the "Residential Closing Funds Distribution Act of 2005." Acts 2005, ch. 273, § 2.
This chapter shall be known and may be cited as the "Residential Closing Funds Distribution Act of 2005."
Acts 2005, ch. 273, § 2.
Tenn. Code Ann. § 47-26-1026 — TN Code / Title 47 / Chapter 26 / Section 47-26-1026
Warning in lieu of criminal or civil penalties
Status: in_force

Nothing in this part shall be construed as requiring the commissioner to report for the institution of proceedings under this part, minor violations of this part, whenever the commissioner believes that the public interest will be adequately served in the circumstances by a suitable oral or written notice or warning. Acts 1997, ch. 311, § 2.
Nothing in this part shall be construed as requiring the commissioner to report for the institution of proceedings under this part, minor violations of this part, whenever the commissioner believes that the public interest will be adequately served in the circumstances by a suitable oral or written notice or warning.
Acts 1997, ch. 311, § 2.
Tenn. Code Ann. § 47-25-1606 — TN Code / Title 47 / Chapter 25 / Section 47-25-1606
Applicability of law
Status: in_force

This part shall apply to all new and unused property purchased or acquired on or after January 1, 1999, which is sold, or to be sold, at a wholesale/retail outlet in this state. Acts 1998, ch. 884, § 2.
This part shall apply to all new and unused property purchased or acquired on or after January 1, 1999, which is sold, or to be sold, at a wholesale/retail outlet in this state.
Acts 1998, ch. 884, § 2.
Tenn. Code Ann. § 47-2a-508 — TN Code / Title 47 / Chapter 2a / Section 47-2a-508
2024 Tennessee Code Title 47 - COMMERCIAL INSTRUMENTS AND TRANSACTIONS (§§ 47-1-101 — 47-50-121) Chapter 2A - LEASES (§§ 47-2A-101 — 47-2A-532) Part 5 - DEFAULT (§§ 47-2A-501 — 47-2A-532) B. DEFAULT BY LESSOR (§§ 47-2A-508 — 47-2A-522) Section 47-2A-508 - Lessee's remedies
Status: in_force

(1) If a lessor fails to deliver the goods in conformity to the lease contract (§ 47-2A-509 ) or repudiates the lease contract (§ 47-2A-402 ), or a lessee rightfully rejects the goods (§ 47-2A-509 ) or justifiably revokes acceptance of the goods (§ 47-2A-517 ), then with respect to any goods involved, and with respect to all of the goods if under an installment lease contract the value of the whole lease contract is substantially impaired (§ 47-2A-510 ), the lessor is in default under the lease contract and the lessee may: (a) cancel the lease contract (§ 47-2A-505(1) ); (b) recover so much of the rent and security as has been paid and is just under the circumstances; (c) cover and recover damages as to all goods affected whether or not they have been identified to the lease contract (§§ 47-2A-518 and 47-2A-520 ), or recover damages for nondelivery (§§ 47-2A-519 and 47-2A-520 ); (d) exercise any other rights or pursue any other remedies provided in the lease contract. (2) If a lessor fails to deliver the goods in conformity to the lease contract or repudiates the lease contract, the lessee may also: (a) if the goods have been identified, recover them (§ 47-2A-522 ); or (b) in a proper case, obtain specific performance or replevy the goods (§ 47-2A-521 ). (3) If a lessor is otherwise in default under a lease contract, the lessee may exercise the rights and pursue the remedies provided in the lease contract, which may include a right to cancel the lease, and in § 47-2A-519(3) . (4) If a lessor has breached a warranty, whether express or implied, the lessee may recover damages (§ 47-2A-519(4) ). (5) On rightful rejection or justifiable revocation of acceptance, a lessee has a security interest in goods in the lessee's possession or control for any rent and security that has been paid and any expenses reasonably incurred in their inspection, receipt, transportation, and care and custody and may hold those goods and dispose of them in good faith and in a commercially reasonable manner, subject to § 47-2A-527(5) . (6) Subject to the provisions of § 47-2A-407 , a lessee, on notifying the lessor of the lessee's intention to do so, may deduct all or any part of the damages resulting from any default under the lease contract from any part of the rent still due under the same lease contract. Acts 1993, ch. 398, § 1.
(1) If a lessor fails to deliver the goods in conformity to the lease contract (§ 47-2A-509 ) or repudiates the lease contract (§ 47-2A-402 ), or a lessee rightfully rejects the goods (§ 47-2A-509 ) or justifiably revokes acceptance of the goods (§ 47-2A-517 ), then with respect to any goods involved, and with respect to all of the goods if under an installment lease contract the value of the whole lease contract is substantially impaired (§ 47-2A-510 ), the lessor is in default under the lease contract and the lessee may: (a) cancel the lease contract (§ 47-2A-505(1) ); (b) recover so much of the rent and security as has been paid and is just under the circumstances; (c) cover and recover damages as to all goods affected whether or not they have been identified to the lease contract (§§ 47-2A-518 and 47-2A-520 ), or recover damages for nondelivery (§§ 47-2A-519 and 47-2A-520 ); (d) exercise any other rights or pursue any other remedies provided in the lease contract.
(a) cancel the lease contract (§ 47-2A-505(1) );
(b) recover so much of the rent and security as has been paid and is just under the circumstances;
(c) cover and recover damages as to all goods affected whether or not they have been identified to the lease contract (§§ 47-2A-518 and 47-2A-520 ), or recover damages for nondelivery (§§ 47-2A-519 and 47-2A-520 );
(d) exercise any other rights or pursue any other remedies provided in the lease contract.
(2) If a lessor fails to deliver the goods in conformity to the lease contract or repudiates the lease contract, the lessee may also: (a) if the goods have been identified, recover them (§ 47-2A-522 ); or (b) in a proper case, obtain specific performance or replevy the goods (§ 47-2A-521 ).
(a) if the goods have been identified, recover them (§ 47-2A-522 ); or
(b) in a proper case, obtain specific performance or replevy the goods (§ 47-2A-521 ).
(3) If a lessor is otherwise in default under a lease contract, the lessee may exercise the rights and pursue the remedies provided in the lease contract, which may include a right to cancel the lease, and in § 47-2A-519(3) .
(4) If a lessor has breached a warranty, whether express or implied, the lessee may recover damages (§ 47-2A-519(4) ).
(5) On rightful rejection or justifiable revocation of acceptance, a lessee has a security interest in goods in the lessee's possession or control for any rent and security that has been paid and any expenses reasonably incurred in their inspection, receipt, transportation, and care and custody and may hold those goods and dispose of them in good faith and in a commercially reasonable manner, subject to § 47-2A-527(5) .
(6) Subject to the provisions of § 47-2A-407 , a lessee, on notifying the lessor of the lessee's intention to do so, may deduct all or any part of the damages resulting from any default under the lease contract from any part of the rent still due under the same lease contract.
Acts 1993, ch. 398, § 1.
Tenn. Code Ann. § 47-9-205 — TN Code / Title 47 / Chapter 9 / Section 47-9-205
Use or disposition of collateral permissible
Status: in_force

(a) When security interest not invalid or fraudulent. A security interest is not invalid or fraudulent against creditors solely because: (1) the debtor has the right or ability to: (A) use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods; (B) collect, compromise, enforce, or otherwise deal with collateral; (C) accept the return of collateral or make repossessions; or (D) use, commingle, or dispose of proceeds; or (2) the secured party fails to require the debtor to account for proceeds or replace collateral. (b) Requirements of possession not relaxed. This section does not relax the requirements of possession if attachment, perfection, or enforcement of a security interest depends upon possession of the collateral by the secured party. Acts 2000, ch. 846, § 1.
(a) When security interest not invalid or fraudulent. A security interest is not invalid or fraudulent against creditors solely because: (1) the debtor has the right or ability to: (A) use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods; (B) collect, compromise, enforce, or otherwise deal with collateral; (C) accept the return of collateral or make repossessions; or (D) use, commingle, or dispose of proceeds; or (2) the secured party fails to require the debtor to account for proceeds or replace collateral.
(1) the debtor has the right or ability to: (A) use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods; (B) collect, compromise, enforce, or otherwise deal with collateral; (C) accept the return of collateral or make repossessions; or (D) use, commingle, or dispose of proceeds; or
(A) use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods;
(B) collect, compromise, enforce, or otherwise deal with collateral;
(C) accept the return of collateral or make repossessions; or
(D) use, commingle, or dispose of proceeds; or
(2) the secured party fails to require the debtor to account for proceeds or replace collateral.
(b) Requirements of possession not relaxed. This section does not relax the requirements of possession if attachment, perfection, or enforcement of a security interest depends upon possession of the collateral by the secured party.
Acts 2000, ch. 846, § 1.
Tenn. Code Ann. § 47-2-323 — TN Code / Title 47 / Chapter 2 / Section 47-2-323
Form of bill of lading required in overseas shipment - "Overseas."
Status: in_force

(1) Where the contract contemplates overseas shipment and contains a term C.I.F. or C. & F. or F.O.B. vessel, the seller unless otherwise agreed must obtain a negotiable bill of lading stating that the goods have been loaded on board or, in the case of a term C.I.F. or C. & F., received for shipment. (2) Where in a case within subdivision (1) a tangible bill of lading has been issued in a set of parts, unless otherwise agreed if the documents are not to be sent from abroad the buyer may demand tender of the full set; otherwise only one (1) part of the bill of lading need be tendered. Even if the agreement expressly requires a full set: (a) due tender of a single part is acceptable within the provisions of this chapter on cure of improper delivery (§ 47-2-508(1) ); and (b) even though the full set is demanded, if the documents are sent from abroad the person tendering an incomplete set may nevertheless require payment upon furnishing an indemnity which the buyer in good faith deems adequate. (3) A shipment by water or by air or a contract contemplating such shipment is "overseas" insofar as by usage of trade or agreement it is subject to the commercial, financing or shipping practices characteristic of international deep water commerce. Acts 1963, ch. 81, § 1 (2-323); Acts 2008, ch. 814, § 6.
(1) Where the contract contemplates overseas shipment and contains a term C.I.F. or C. & F. or F.O.B. vessel, the seller unless otherwise agreed must obtain a negotiable bill of lading stating that the goods have been loaded on board or, in the case of a term C.I.F. or C. & F., received for shipment.
(2) Where in a case within subdivision (1) a tangible bill of lading has been issued in a set of parts, unless otherwise agreed if the documents are not to be sent from abroad the buyer may demand tender of the full set; otherwise only one (1) part of the bill of lading need be tendered. Even if the agreement expressly requires a full set: (a) due tender of a single part is acceptable within the provisions of this chapter on cure of improper delivery (§ 47-2-508(1) ); and (b) even though the full set is demanded, if the documents are sent from abroad the person tendering an incomplete set may nevertheless require payment upon furnishing an indemnity which the buyer in good faith deems adequate.
(a) due tender of a single part is acceptable within the provisions of this chapter on cure of improper delivery (§ 47-2-508(1) ); and
(b) even though the full set is demanded, if the documents are sent from abroad the person tendering an incomplete set may nevertheless require payment upon furnishing an indemnity which the buyer in good faith deems adequate.
(3) A shipment by water or by air or a contract contemplating such shipment is "overseas" insofar as by usage of trade or agreement it is subject to the commercial, financing or shipping practices characteristic of international deep water commerce.
Acts 1963, ch. 81, § 1 (2-323); Acts 2008, ch. 814, § 6.
Tenn. Code Ann. § 47-9-710 — TN Code / Title 47 / Chapter 9 / Section 47-9-710
Applicability of Section 47-9-503 requirements for name of an individual as debtor on financing statement
Status: in_force

(a) Section 47-9-503(a)(4) , as it existed pursuant to chapter 648, § 1 of the Public Acts of 2008, applies to initial financing statements and amendments filed on or after May 1, 2008, but before June 13, 2008, that provide the name of an individual as debtor. (b) If the initial financing statement or amendment provides the name of an individual debtor authorized by chapter 648 of the Public Acts of 2008, the following transition rules apply: (1) The financing statement shall sufficiently provide the name of the debtor if: (A) The name is the name shown on the individual's driver license or identification license, as provided in § 47-9-503(a)(4) ; or (B) The debtor's name is otherwise sufficient as determined in accordance with any other method permitted by law, excluding § 47-9-503(a)(4) as it existed pursuant to chapter 648, § 1 of the Public Acts of 2008; (2) If the financing statement does not sufficiently provide the name of the debtor as set forth in subdivision (b)(1), then the financing statement shall nevertheless be deemed to sufficiently provide the name of the debtor: (A) For a period of sixty (60) days from June 13, 2008; and (B) Thereafter, only if an amendment to the financing statement is filed within the sixty-day period to provide the name of the debtor as set forth in subdivision (b)(1); and (3) A financing statement properly amended by an amendment filed pursuant to subdivision (b)(2) shall be deemed to have sufficiently provided the name of the debtor from and after its original filing date. Acts 2008 , ch. 1109, § 3.
(a) Section 47-9-503(a)(4) , as it existed pursuant to chapter 648, § 1 of the Public Acts of 2008, applies to initial financing statements and amendments filed on or after May 1, 2008, but before June 13, 2008, that provide the name of an individual as debtor.
(b) If the initial financing statement or amendment provides the name of an individual debtor authorized by chapter 648 of the Public Acts of 2008, the following transition rules apply: (1) The financing statement shall sufficiently provide the name of the debtor if: (A) The name is the name shown on the individual's driver license or identification license, as provided in § 47-9-503(a)(4) ; or (B) The debtor's name is otherwise sufficient as determined in accordance with any other method permitted by law, excluding § 47-9-503(a)(4) as it existed pursuant to chapter 648, § 1 of the Public Acts of 2008; (2) If the financing statement does not sufficiently provide the name of the debtor as set forth in subdivision (b)(1), then the financing statement shall nevertheless be deemed to sufficiently provide the name of the debtor: (A) For a period of sixty (60) days from June 13, 2008; and (B) Thereafter, only if an amendment to the financing statement is filed within the sixty-day period to provide the name of the debtor as set forth in subdivision (b)(1); and (3) A financing statement properly amended by an amendment filed pursuant to subdivision (b)(2) shall be deemed to have sufficiently provided the name of the debtor from and after its original filing date.
(1) The financing statement shall sufficiently provide the name of the debtor if: (A) The name is the name shown on the individual's driver license or identification license, as provided in § 47-9-503(a)(4) ; or (B) The debtor's name is otherwise sufficient as determined in accordance with any other method permitted by law, excluding § 47-9-503(a)(4) as it existed pursuant to chapter 648, § 1 of the Public Acts of 2008;
(A) The name is the name shown on the individual's driver license or identification license, as provided in § 47-9-503(a)(4) ; or
(B) The debtor's name is otherwise sufficient as determined in accordance with any other method permitted by law, excluding § 47-9-503(a)(4) as it existed pursuant to chapter 648, § 1 of the Public Acts of 2008;
(2) If the financing statement does not sufficiently provide the name of the debtor as set forth in subdivision (b)(1), then the financing statement shall nevertheless be deemed to sufficiently provide the name of the debtor: (A) For a period of sixty (60) days from June 13, 2008; and (B) Thereafter, only if an amendment to the financing statement is filed within the sixty-day period to provide the name of the debtor as set forth in subdivision (b)(1); and
(A) For a period of sixty (60) days from June 13, 2008; and
(B) Thereafter, only if an amendment to the financing statement is filed within the sixty-day period to provide the name of the debtor as set forth in subdivision (b)(1); and
(3) A financing statement properly amended by an amendment filed pursuant to subdivision (b)(2) shall be deemed to have sufficiently provided the name of the debtor from and after its original filing date.
Acts 2008 , ch. 1109, § 3.
Tenn. Code Ann. § 47-3-420 — TN Code / Title 47 / Chapter 3 / Section 47-3-420
Conversion of instrument
Status: in_force

(a) The law applicable to conversion of personal property applies to instruments. An instrument is also converted if it is taken by transfer, other than a negotiation, from a person not entitled to enforce the instrument or a bank makes or obtains payment with respect to the instrument for a person not entitled to enforce the instrument or receive payment. An action for conversion of an instrument may not be brought by (i) the issuer or acceptor of the instrument or (ii) a payee or endorsee who did not receive delivery of the instrument either directly or through delivery to an agent or a copayee. (b) In an action under subsection (a), the measure of liability is presumed to be the amount payable on the instrument, but recovery may not exceed the amount of the plaintiff's interest in the instrument. (c) A representative, including a depositary bank, who has in good faith dealt with an instrument or its proceeds on behalf of one who was not the person entitled to enforce the instrument is not liable in conversion to that person beyond the amount of any proceeds that it has not paid out. Acts 1995, ch. 397, § 2.
(a) The law applicable to conversion of personal property applies to instruments. An instrument is also converted if it is taken by transfer, other than a negotiation, from a person not entitled to enforce the instrument or a bank makes or obtains payment with respect to the instrument for a person not entitled to enforce the instrument or receive payment. An action for conversion of an instrument may not be brought by (i) the issuer or acceptor of the instrument or (ii) a payee or endorsee who did not receive delivery of the instrument either directly or through delivery to an agent or a copayee.
(b) In an action under subsection (a), the measure of liability is presumed to be the amount payable on the instrument, but recovery may not exceed the amount of the plaintiff's interest in the instrument.
(c) A representative, including a depositary bank, who has in good faith dealt with an instrument or its proceeds on behalf of one who was not the person entitled to enforce the instrument is not liable in conversion to that person beyond the amount of any proceeds that it has not paid out.
Acts 1995, ch. 397, § 2.
Tenn. Code Ann. § 47-10-103 — TN Code / Title 47 / Chapter 10 / Section 47-10-103
Scope
Status: in_force

(a) Except as otherwise provided in subsection (b), this chapter applies to electronic records and electronic signatures relating to a transaction. (b) This chapter does not apply to a transaction to the extent it is governed by: (1) A law governing the creation and execution of wills, codicils, or testamentary trusts; or (2) Chapters 1-9 of this title, excepting §§ 47-1-107 , 47-1-206 , and chapters 2 and 2A of this title. (c) This chapter applies to an electronic record or electronic signature otherwise excluded from the application of this chapter under subsection (b) to the extent it is governed by a law other than those specified in subsection (b). (d) A transaction subject to this chapter is also subject to other applicable substantive law. Acts 2001, ch. 72, § 3.
(a) Except as otherwise provided in subsection (b), this chapter applies to electronic records and electronic signatures relating to a transaction.
(b) This chapter does not apply to a transaction to the extent it is governed by: (1) A law governing the creation and execution of wills, codicils, or testamentary trusts; or (2) Chapters 1-9 of this title, excepting §§ 47-1-107 , 47-1-206 , and chapters 2 and 2A of this title.
(1) A law governing the creation and execution of wills, codicils, or testamentary trusts; or
(2) Chapters 1-9 of this title, excepting §§ 47-1-107 , 47-1-206 , and chapters 2 and 2A of this title.
(c) This chapter applies to an electronic record or electronic signature otherwise excluded from the application of this chapter under subsection (b) to the extent it is governed by a law other than those specified in subsection (b).
(d) A transaction subject to this chapter is also subject to other applicable substantive law.
Acts 2001, ch. 72, § 3.
Tenn. Code Ann. § 47-18-1403 — TN Code / Title 47 / Chapter 18 / Section 47-18-1403
Working days - Definition
Status: in_force

For the purposes of this part, working days shall not include Saturdays, Sundays or legal holidays pursuant to § 15-1-101 . Acts 1989, ch. 450, § 3.
For the purposes of this part, working days shall not include Saturdays, Sundays or legal holidays pursuant to § 15-1-101 .
Acts 1989, ch. 450, § 3.
Tenn. Code Ann. § 47-25-1214 — TN Code / Title 47 / Chapter 25 / Section 47-25-1214
Failure to disclose - Contract voidable
Status: in_force

Failure to make the disclosures required by this part shall render any contract subsequently entered into between the customer and the invention developer voidable by the customer. Acts 1977, ch. 436, § 19; T.C.A., § 47-20-114.
Failure to make the disclosures required by this part shall render any contract subsequently entered into between the customer and the invention developer voidable by the customer.
Acts 1977, ch. 436, § 19; T.C.A., § 47-20-114.
Tenn. Code Ann. § 47-2-328 — TN Code / Title 47 / Chapter 2 / Section 47-2-328
Sale by auction
Status: in_force

(1) In a sale by auction if goods are put up in lots each lot is the subject of a separate sale. (2) A sale by auction is complete when the auctioneer so announces by the fall of the hammer or in other customary manner. Where a bid is made while the hammer is falling in acceptance of a prior bid the auctioneer may in his discretion reopen the bidding or declare the goods sold under the bid on which the hammer was falling. (3) Such a sale is with reserve unless the goods are in explicit terms put up without reserve. In an auction with reserve the auctioneer may withdraw the goods at any time until he announces completion of the sale. In an auction without reserve, after the auctioneer calls for bids on an article or lot, that article or lot cannot be withdrawn unless no bid is made within a reasonable time. In either case a bidder may retract his bid until the auctioneer's announcement of completion of the sale, but a bidder's retraction does not revive any previous bid. (4) If the auctioneer knowingly receives a bid on the seller's behalf or the seller makes or procures such a bid, and notice has not been given that liberty for such bidding is reserved, the buyer may at his option avoid the sale or take the goods at the price of the last good faith bid prior to the completion of the sale. This subsection shall not apply to any bid at a forced sale. Acts 1963, ch. 81, § 1 (2-328).
(1) In a sale by auction if goods are put up in lots each lot is the subject of a separate sale.
(2) A sale by auction is complete when the auctioneer so announces by the fall of the hammer or in other customary manner. Where a bid is made while the hammer is falling in acceptance of a prior bid the auctioneer may in his discretion reopen the bidding or declare the goods sold under the bid on which the hammer was falling.
(3) Such a sale is with reserve unless the goods are in explicit terms put up without reserve. In an auction with reserve the auctioneer may withdraw the goods at any time until he announces completion of the sale. In an auction without reserve, after the auctioneer calls for bids on an article or lot, that article or lot cannot be withdrawn unless no bid is made within a reasonable time. In either case a bidder may retract his bid until the auctioneer's announcement of completion of the sale, but a bidder's retraction does not revive any previous bid.
(4) If the auctioneer knowingly receives a bid on the seller's behalf or the seller makes or procures such a bid, and notice has not been given that liberty for such bidding is reserved, the buyer may at his option avoid the sale or take the goods at the price of the last good faith bid prior to the completion of the sale. This subsection shall not apply to any bid at a forced sale.
Acts 1963, ch. 81, § 1 (2-328).
Tenn. Code Ann. § 47-25-1604 — TN Code / Title 47 / Chapter 25 / Section 47-25-1604
Offenses
Status: in_force

It is an offense for any new and unused property merchant required to maintain receipts under this part to knowingly: (1) Falsify, obliterate or destroy such receipts; (2) Refuse or fail, upon the request of a law enforcement officer, to make such receipts available for inspection within a period of time which is reasonable under the individual circumstances surrounding such request; provided, that nothing contained within this section shall be construed to require the new and unused property merchant to possess such receipt on or about the merchant's person without reasonable notice; (3) Fail to maintain the receipts required by this part for at least two (2) years; or (4) Present credentials pursuant to the requirements of this section which are false, fraudulent, forged, fraudulently obtained or the nature of which is misrepresented. Acts 1998, ch. 884, § 2.
It is an offense for any new and unused property merchant required to maintain receipts under this part to knowingly:
(1) Falsify, obliterate or destroy such receipts;
(2) Refuse or fail, upon the request of a law enforcement officer, to make such receipts available for inspection within a period of time which is reasonable under the individual circumstances surrounding such request; provided, that nothing contained within this section shall be construed to require the new and unused property merchant to possess such receipt on or about the merchant's person without reasonable notice;
(3) Fail to maintain the receipts required by this part for at least two (2) years; or
(4) Present credentials pursuant to the requirements of this section which are false, fraudulent, forged, fraudulently obtained or the nature of which is misrepresented.
Acts 1998, ch. 884, § 2.
Tenn. Code Ann. § 47-10-121 — TN Code / Title 47 / Chapter 10 / Section 47-10-121
Severability clause
Status: in_force

If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable. Acts 2001, ch. 72, § 21.
If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable.
Acts 2001, ch. 72, § 21.
Tenn. Code Ann. § 47-2-205 — TN Code / Title 47 / Chapter 2 / Section 47-2-205
Firm offers
Status: in_force

An offer by a merchant to buy or sell goods in a signed writing which by its terms gives assurance that it will be held open is not revocable, for lack of consideration, during the time stated or if no time is stated for a reasonable time, but in no event may such period of irrevocability exceed three (3) months; but any such term of assurance on a form supplied by the offeree must be separately signed by the offeror. Acts 1963, ch. 81, § 1 (2-205).
An offer by a merchant to buy or sell goods in a signed writing which by its terms gives assurance that it will be held open is not revocable, for lack of consideration, during the time stated or if no time is stated for a reasonable time, but in no event may such period of irrevocability exceed three (3) months; but any such term of assurance on a form supplied by the offeree must be separately signed by the offeror.
Acts 1963, ch. 81, § 1 (2-205).
Tenn. Code Ann. § 47-1-303 — TN Code / Title 47 / Chapter 1 / Section 47-1-303
Course of performance, course of dealing, and usage of trade
Status: in_force

(a) A "course of performance" is a sequence of conduct between the parties to a particular transaction that exists if: (1) The agreement of the parties with respect to the transaction involves repeated occasions for performance by a party; and (2) The other party, with knowledge of the nature of the performance and opportunity for objection to it, accepts the performance or acquiesces in it without objection. (b) A "course of dealing" is a sequence of conduct concerning previous transactions between the parties to a particular transaction that is fairly to be regarded as establishing a common basis of understanding for interpreting their expressions and other conduct. (c) A "usage of trade" is any practice or method of dealing having such regularity of observance in a place, vocation, or trade as to justify an expectation that it will be observed with respect to the transaction in question. The existence and scope of such a usage must be proved as facts. If it is established that such a usage is embodied in a trade code or similar record, the interpretation of the record is a question of law. (d) A course of performance or course of dealing between the parties or usage of trade in the vocation or trade in which they are engaged or of which they are or should be aware is relevant in ascertaining the meaning of the parties' agreement, may give particular meaning to specific terms of the agreement, and may supplement or qualify the terms of the agreement. A usage of trade applicable in the place in which part of the performance under the agreement is to occur may be so utilized as to that part of the performance. (e) Except as otherwise provided in subsection (f), the express terms of an agreement and any applicable course of performance, course of dealing, or usage of trade must be construed whenever reasonable as consistent with each other. If such a construction is unreasonable: (1) Express terms prevail over course of performance, course of dealing, and usage of trade; (2) Course of performance prevails over course of dealing and usage of trade; and (3) Course of dealing prevails over usage of trade. (f) Subject to § 47-2-209 , a course of performance is relevant to show a waiver or modification of any term inconsistent with the course of performance. (g) Evidence of a relevant usage of trade offered by one party is not admissible unless that party has given the other party notice that the court finds sufficient to prevent unfair surprise to the other party. Acts 2008, ch. 930, § 1.
(a) A "course of performance" is a sequence of conduct between the parties to a particular transaction that exists if: (1) The agreement of the parties with respect to the transaction involves repeated occasions for performance by a party; and (2) The other party, with knowledge of the nature of the performance and opportunity for objection to it, accepts the performance or acquiesces in it without objection.
(1) The agreement of the parties with respect to the transaction involves repeated occasions for performance by a party; and
(2) The other party, with knowledge of the nature of the performance and opportunity for objection to it, accepts the performance or acquiesces in it without objection.
(b) A "course of dealing" is a sequence of conduct concerning previous transactions between the parties to a particular transaction that is fairly to be regarded as establishing a common basis of understanding for interpreting their expressions and other conduct.
(c) A "usage of trade" is any practice or method of dealing having such regularity of observance in a place, vocation, or trade as to justify an expectation that it will be observed with respect to the transaction in question. The existence and scope of such a usage must be proved as facts. If it is established that such a usage is embodied in a trade code or similar record, the interpretation of the record is a question of law.
(d) A course of performance or course of dealing between the parties or usage of trade in the vocation or trade in which they are engaged or of which they are or should be aware is relevant in ascertaining the meaning of the parties' agreement, may give particular meaning to specific terms of the agreement, and may supplement or qualify the terms of the agreement. A usage of trade applicable in the place in which part of the performance under the agreement is to occur may be so utilized as to that part of the performance.
(e) Except as otherwise provided in subsection (f), the express terms of an agreement and any applicable course of performance, course of dealing, or usage of trade must be construed whenever reasonable as consistent with each other. If such a construction is unreasonable: (1) Express terms prevail over course of performance, course of dealing, and usage of trade; (2) Course of performance prevails over course of dealing and usage of trade; and (3) Course of dealing prevails over usage of trade.
(1) Express terms prevail over course of performance, course of dealing, and usage of trade;
(2) Course of performance prevails over course of dealing and usage of trade; and
(3) Course of dealing prevails over usage of trade.
(f) Subject to § 47-2-209 , a course of performance is relevant to show a waiver or modification of any term inconsistent with the course of performance.
(g) Evidence of a relevant usage of trade offered by one party is not admissible unless that party has given the other party notice that the court finds sufficient to prevent unfair surprise to the other party.
Acts 2008, ch. 930, § 1.
Tenn. Code Ann. § 47-9-201 — TN Code / Title 47 / Chapter 9 / Section 47-9-201
General effectiveness of security agreement
Status: in_force

(a) General effectiveness. Except as otherwise provided in the Uniform Commercial Code, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors. (b) Applicable consumer laws and other law. A transaction subject to this chapter is subject to any applicable rule of law which establishes a different rule for consumers and to appropriate statutes regulating loans and retail installment sales, insofar as any such statute by its terms applies to the transaction. (c) Other applicable law controls. In case of conflict between this chapter and a rule of law, statute, or regulation described in subsection (b), the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in subsection (b) has only the effect the statute or regulation specifies. (d) Further deference to other applicable law. This chapter does not: (1) validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in subsection (b); or (2) extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it. Acts 2000, ch. 846, § 1.
(a) General effectiveness. Except as otherwise provided in the Uniform Commercial Code, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors.
(b) Applicable consumer laws and other law. A transaction subject to this chapter is subject to any applicable rule of law which establishes a different rule for consumers and to appropriate statutes regulating loans and retail installment sales, insofar as any such statute by its terms applies to the transaction.
(c) Other applicable law controls. In case of conflict between this chapter and a rule of law, statute, or regulation described in subsection (b), the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in subsection (b) has only the effect the statute or regulation specifies.
(d) Further deference to other applicable law. This chapter does not: (1) validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in subsection (b); or (2) extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it.
(1) validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in subsection (b); or
(2) extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it.
Acts 2000, ch. 846, § 1.