Tenn. Code Ann. § 47-11-103 — TN Code / Title 47 / Chapter 11 / Section 47-11-103
Retail installment contracts
Status: in_force

(a) Form and Contents. (1) Every retail installment contract shall be in writing and shall set forth the following: (A) The cash price and identification of the goods or services; (B) The amount of the buyer's down payment, if any, whether made wholly or in part in money or goods; (C) The difference between subdivisions (a)(1)(A) and (B); (D) The amount, if any, of official fees and the costs, if any, to the buyer of any insurance the buyer has agreed to procure, if the seller has agreed to purchase the insurance and charge the buyer for the cost thereof; (E) The principal balance owed on the retail installment contract, which is the sum of subdivisions (a)(1)(C) and (D); (F) The amount of the time price differential; and (G) The time balance owed by the buyer to the seller, which is the sum of subdivisions (a)(1)(E) and (F), and except as hereinafter provided, the maximum number of installment payments required and the amount and date of each payment necessary to pay such time balance. (2) The foregoing subdivisions need not be stated in the sequence or order set forth in subdivision (a)(1), and additional items may be included to explain the computations made in determining the amount to be paid by the buyer. (b) Payments. (1) The maximum number of payments and the amount and date of each payment need not be separately listed if the payments are stated in terms of a series of scheduled amounts, and in such case the amount of the scheduled final payment may be stated as the remaining unpaid balance. (2) The initial date for the payment of the first installment may be a calendar date or may refer to the time of delivery or installation. (c) Document or Documents Comprising. A retail installment contract need not be contained in a single document. If the contract is contained in more than one (1) document, then one (1) such document may be an original document executed by the retail buyer applicable to purchases of goods or services to be made by the retail buyer from time to time and, in such case, such document, together with the sales slip, account book or other written statement relating to each purchase, a copy of all of which shall be delivered to the buyer, shall set forth all of the information required by subsection (a) and shall constitute the retail installment contract for each such purchase. (d) Time Price Differential. (1) Notwithstanding any other law, the seller or other holder under a retail installment contract may charge, receive, and collect a time price differential which shall not exceed eleven dollars and seventy-five cents ($11.75) per one hundred dollars ($100) per year on the principal balance of each transaction. (2) The time price differential under this subsection (d) shall be computed on the principal balance of each transaction, as determined under this section, on contracts payable in successive monthly payments substantially equal in amount from the date of the contract to the maturity of the final payment, notwithstanding that the total time balance thereof is required to be paid in one (1) or more deferred payments. When a retail installment contract provides for payment other than in substantially equal successive monthly payments, the time price differential shall not exceed the amount which will provide the same return as is permitted on substantially equal monthly payment contracts, having due regard for the schedule of payments. The time price differential may be computed on the basis of a full month for any fractional portion of a month in excess of fifteen (15) days. A minimum time price differential of twelve dollars and fifty cents ($12.50) may be charged, received and collected on each such contract. (e) Copy of Contract, Insurance Policy Given Buyer. (1) The seller shall deliver or mail to the buyer, at the buyer's address as specified by the buyer, a copy of the retail installment contract prior to the date on which the first payment is due under the contract. An acknowledgment of the delivery thereof contained in the body of an instrument signed by the buyer shall be presumptive proof of delivery in any action. (2) The seller under any retail installment contract shall, prior to the date on which the first payment is due thereunder, deliver or mail to the buyer, at the buyer's aforementioned address, any policy of insurance the seller has agreed to purchase in connection therewith, or in lieu of such policy, a certificate of such insurance. (f) Receipt Given for Payment; Schedule of Payments. (1) A buyer shall be given a receipt for any payment when made in cash. (2) At any time after the execution of a contract, but not later than two (2) months after the last payment thereunder, the holder shall, upon written request of the buyer, give or forward to the buyer a written statement of the dates and amounts of payments and the total amount, if any, unpaid under the contract. Such a statement shall be supplied by the holder once without charge; if any additional statement is requested by the buyer, the holder shall supply such statement to the buyer at a charge not exceeding one dollar ($1.00) for each additional statement so supplied. "Holder" in this section means the retail seller unless the seller has assigned the contract, in which case "holder" means the assignee of such contract at the time of the determination. (g) Payment in Full Acknowledged by Instrument. After payment of all sums for which the buyer is obligated under a contract, and upon written demand made by the buyer, the holder shall deliver or mail to the buyer, at the buyer's last known address, one (1) or more good and sufficient instruments to acknowledge payment in full and shall release all security in the goods. (h) Prepayment; Refund Credit. Notwithstanding the provisions of any retail installment contract to the contrary, any buyer may prepay in full at any time before maturity the unpaid balance of any retail installment contract, and in so paying such unpaid balance shall receive a refund credit thereon for such anticipation of payments. The amount of such refund shall represent at least as great a proportion of the time price differential, after first deducting therefrom an acquisition cost not to exceed the sum of fifteen dollars ($15.00), as the sum of the monthly time balances beginning one (1) month after prepayment is made bears to the sum of all the monthly time balances under the schedule of payments in the contract. Where the amount of such refund credit is less than one dollar ($1.00), no refund need be made. Acts 1961, ch. 110, § 1; T.C.A., § 47-1903; Acts 1982, ch. 723, § 1; 1983, ch. 328, § 1.
(a) Form and Contents. (1) Every retail installment contract shall be in writing and shall set forth the following: (A) The cash price and identification of the goods or services; (B) The amount of the buyer's down payment, if any, whether made wholly or in part in money or goods; (C) The difference between subdivisions (a)(1)(A) and (B); (D) The amount, if any, of official fees and the costs, if any, to the buyer of any insurance the buyer has agreed to procure, if the seller has agreed to purchase the insurance and charge the buyer for the cost thereof; (E) The principal balance owed on the retail installment contract, which is the sum of subdivisions (a)(1)(C) and (D); (F) The amount of the time price differential; and (G) The time balance owed by the buyer to the seller, which is the sum of subdivisions (a)(1)(E) and (F), and except as hereinafter provided, the maximum number of installment payments required and the amount and date of each payment necessary to pay such time balance. (2) The foregoing subdivisions need not be stated in the sequence or order set forth in subdivision (a)(1), and additional items may be included to explain the computations made in determining the amount to be paid by the buyer.
(1) Every retail installment contract shall be in writing and shall set forth the following: (A) The cash price and identification of the goods or services; (B) The amount of the buyer's down payment, if any, whether made wholly or in part in money or goods; (C) The difference between subdivisions (a)(1)(A) and (B); (D) The amount, if any, of official fees and the costs, if any, to the buyer of any insurance the buyer has agreed to procure, if the seller has agreed to purchase the insurance and charge the buyer for the cost thereof; (E) The principal balance owed on the retail installment contract, which is the sum of subdivisions (a)(1)(C) and (D); (F) The amount of the time price differential; and (G) The time balance owed by the buyer to the seller, which is the sum of subdivisions (a)(1)(E) and (F), and except as hereinafter provided, the maximum number of installment payments required and the amount and date of each payment necessary to pay such time balance.
(A) The cash price and identification of the goods or services;
(B) The amount of the buyer's down payment, if any, whether made wholly or in part in money or goods;
(C) The difference between subdivisions (a)(1)(A) and (B);
(D) The amount, if any, of official fees and the costs, if any, to the buyer of any insurance the buyer has agreed to procure, if the seller has agreed to purchase the insurance and charge the buyer for the cost thereof;
(E) The principal balance owed on the retail installment contract, which is the sum of subdivisions (a)(1)(C) and (D);
(F) The amount of the time price differential; and
(G) The time balance owed by the buyer to the seller, which is the sum of subdivisions (a)(1)(E) and (F), and except as hereinafter provided, the maximum number of installment payments required and the amount and date of each payment necessary to pay such time balance.
(2) The foregoing subdivisions need not be stated in the sequence or order set forth in subdivision (a)(1), and additional items may be included to explain the computations made in determining the amount to be paid by the buyer.
(b) Payments. (1) The maximum number of payments and the amount and date of each payment need not be separately listed if the payments are stated in terms of a series of scheduled amounts, and in such case the amount of the scheduled final payment may be stated as the remaining unpaid balance. (2) The initial date for the payment of the first installment may be a calendar date or may refer to the time of delivery or installation.
(1) The maximum number of payments and the amount and date of each payment need not be separately listed if the payments are stated in terms of a series of scheduled amounts, and in such case the amount of the scheduled final payment may be stated as the remaining unpaid balance.
(2) The initial date for the payment of the first installment may be a calendar date or may refer to the time of delivery or installation.
(c) Document or Documents Comprising. A retail installment contract need not be contained in a single document. If the contract is contained in more than one (1) document, then one (1) such document may be an original document executed by the retail buyer applicable to purchases of goods or services to be made by the retail buyer from time to time and, in such case, such document, together with the sales slip, account book or other written statement relating to each purchase, a copy of all of which shall be delivered to the buyer, shall set forth all of the information required by subsection (a) and shall constitute the retail installment contract for each such purchase.
(d) Time Price Differential. (1) Notwithstanding any other law, the seller or other holder under a retail installment contract may charge, receive, and collect a time price differential which shall not exceed eleven dollars and seventy-five cents ($11.75) per one hundred dollars ($100) per year on the principal balance of each transaction. (2) The time price differential under this subsection (d) shall be computed on the principal balance of each transaction, as determined under this section, on contracts payable in successive monthly payments substantially equal in amount from the date of the contract to the maturity of the final payment, notwithstanding that the total time balance thereof is required to be paid in one (1) or more deferred payments. When a retail installment contract provides for payment other than in substantially equal successive monthly payments, the time price differential shall not exceed the amount which will provide the same return as is permitted on substantially equal monthly payment contracts, having due regard for the schedule of payments. The time price differential may be computed on the basis of a full month for any fractional portion of a month in excess of fifteen (15) days. A minimum time price differential of twelve dollars and fifty cents ($12.50) may be charged, received and collected on each such contract.
(1) Notwithstanding any other law, the seller or other holder under a retail installment contract may charge, receive, and collect a time price differential which shall not exceed eleven dollars and seventy-five cents ($11.75) per one hundred dollars ($100) per year on the principal balance of each transaction.
(2) The time price differential under this subsection (d) shall be computed on the principal balance of each transaction, as determined under this section, on contracts payable in successive monthly payments substantially equal in amount from the date of the contract to the maturity of the final payment, notwithstanding that the total time balance thereof is required to be paid in one (1) or more deferred payments. When a retail installment contract provides for payment other than in substantially equal successive monthly payments, the time price differential shall not exceed the amount which will provide the same return as is permitted on substantially equal monthly payment contracts, having due regard for the schedule of payments. The time price differential may be computed on the basis of a full month for any fractional portion of a month in excess of fifteen (15) days. A minimum time price differential of twelve dollars and fifty cents ($12.50) may be charged, received and collected on each such contract.
(e) Copy of Contract, Insurance Policy Given Buyer. (1) The seller shall deliver or mail to the buyer, at the buyer's address as specified by the buyer, a copy of the retail installment contract prior to the date on which the first payment is due under the contract. An acknowledgment of the delivery thereof contained in the body of an instrument signed by the buyer shall be presumptive proof of delivery in any action. (2) The seller under any retail installment contract shall, prior to the date on which the first payment is due thereunder, deliver or mail to the buyer, at the buyer's aforementioned address, any policy of insurance the seller has agreed to purchase in connection therewith, or in lieu of such policy, a certificate of such insurance.
(1) The seller shall deliver or mail to the buyer, at the buyer's address as specified by the buyer, a copy of the retail installment contract prior to the date on which the first payment is due under the contract. An acknowledgment of the delivery thereof contained in the body of an instrument signed by the buyer shall be presumptive proof of delivery in any action.
(2) The seller under any retail installment contract shall, prior to the date on which the first payment is due thereunder, deliver or mail to the buyer, at the buyer's aforementioned address, any policy of insurance the seller has agreed to purchase in connection therewith, or in lieu of such policy, a certificate of such insurance.
(f) Receipt Given for Payment; Schedule of Payments. (1) A buyer shall be given a receipt for any payment when made in cash. (2) At any time after the execution of a contract, but not later than two (2) months after the last payment thereunder, the holder shall, upon written request of the buyer, give or forward to the buyer a written statement of the dates and amounts of payments and the total amount, if any, unpaid under the contract. Such a statement shall be supplied by the holder once without charge; if any additional statement is requested by the buyer, the holder shall supply such statement to the buyer at a charge not exceeding one dollar ($1.00) for each additional statement so supplied. "Holder" in this section means the retail seller unless the seller has assigned the contract, in which case "holder" means the assignee of such contract at the time of the determination.
(1) A buyer shall be given a receipt for any payment when made in cash.
(2) At any time after the execution of a contract, but not later than two (2) months after the last payment thereunder, the holder shall, upon written request of the buyer, give or forward to the buyer a written statement of the dates and amounts of payments and the total amount, if any, unpaid under the contract. Such a statement shall be supplied by the holder once without charge; if any additional statement is requested by the buyer, the holder shall supply such statement to the buyer at a charge not exceeding one dollar ($1.00) for each additional statement so supplied. "Holder" in this section means the retail seller unless the seller has assigned the contract, in which case "holder" means the assignee of such contract at the time of the determination.
(g) Payment in Full Acknowledged by Instrument. After payment of all sums for which the buyer is obligated under a contract, and upon written demand made by the buyer, the holder shall deliver or mail to the buyer, at the buyer's last known address, one (1) or more good and sufficient instruments to acknowledge payment in full and shall release all security in the goods.
(h) Prepayment; Refund Credit. Notwithstanding the provisions of any retail installment contract to the contrary, any buyer may prepay in full at any time before maturity the unpaid balance of any retail installment contract, and in so paying such unpaid balance shall receive a refund credit thereon for such anticipation of payments. The amount of such refund shall represent at least as great a proportion of the time price differential, after first deducting therefrom an acquisition cost not to exceed the sum of fifteen dollars ($15.00), as the sum of the monthly time balances beginning one (1) month after prepayment is made bears to the sum of all the monthly time balances under the schedule of payments in the contract. Where the amount of such refund credit is less than one dollar ($1.00), no refund need be made.
Acts 1961, ch. 110, § 1; T.C.A., § 47-1903; Acts 1982, ch. 723, § 1; 1983, ch. 328, § 1.
Tenn. Code Ann. § 47-18-2110 — TN Code / Title 47 / Chapter 18 / Section 47-18-2110
Protecting social security numbers from disclosure
Status: in_force

(a) On and after January 1, 2008, any person, nonprofit or for profit business entity in this state, including, but not limited to, any sole proprietorship, partnership, limited liability company, or corporation, engaged in any business, including, but not limited to, health care, that has obtained a federal social security number for a legitimate business or governmental purpose shall make reasonable efforts to protect that social security number from disclosure to the public. Social security numbers shall not: (1) Be posted or displayed in public; (2) Be required to be transmitted over the Internet, unless the Internet connection used is secure or the social security number is encrypted; (3) Be required to log onto or access an Internet web site, unless used in combination with a password or other authentication device; (4) Be printed on any materials mailed to a consumer, unless the disclosure is required by law, or the document is a form or application; or (5) Be printed on any check, card, identification, or badge that the consumer must display or present in order to receive a benefit, good, service or other thing of value to which the consumer is entitled based upon the consumer's contract or other agreement with the entity issuing the check, card, identification, or badge. (b) The requirements established pursuant to subsection (a) shall not apply: (1) To the disclosure of a federal social security number by an entity so long as the disclosure is for a legitimate business or governmental purpose and occurs pursuant to the terms of a business or governmental contract or other lawful legal obligation; or (2) If the: (A) Person gives permission, in writing; (B) Disclosure is authorized or required under state or federal law; or (C) Disclosure is made: (i) To a consumer reporting agency as defined by the federal Fair Credit Reporting Act ( 15 U.S.C. § 1681 et seq.); (ii) To a financial institution subject to the privacy provisions of the federal Gramm-Leach-Bliley Act ( 15 U.S.C. § 6802 ); or (iii) To a financial institution subject to the International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001 ( 31 U.S.C. § 5311 et seq.). (c) On and after January 1, 2009, a violation of subsection (a) is a Class B misdemeanor. Each violation of subsection (a) shall constitute a separate offense. (d) In addition to the criminal offense created pursuant to subsections (a) and (b), on and after January 1, 2009, it is also a civil violation of this part, subject to the penalty provided in this part, for any person, any nonprofit or for profit business entity in this state, including, but not limited to, any sole proprietorship, partnership, limited liability company, or corporation, engaged in any business, including, but not limited to, health care, to violate any of the prohibitions of subsection (a). (e) Any state agency or nonprofit or for profit business entity engaged in the provision of health care services under Title XIX, including determining eligibility for Title XIX services, shall be exempted from the requirements of subsections (a) and (b). Amended by 2015 Tenn. Acts, ch. 127, s 2, eff. 7/1/2015. Amended by 2015 Tenn. Acts, ch. 127, s 1, eff. 7/1/2015. Acts 2007 , ch. 170, § 6; 2009 , ch. 269, § 1.
(a) On and after January 1, 2008, any person, nonprofit or for profit business entity in this state, including, but not limited to, any sole proprietorship, partnership, limited liability company, or corporation, engaged in any business, including, but not limited to, health care, that has obtained a federal social security number for a legitimate business or governmental purpose shall make reasonable efforts to protect that social security number from disclosure to the public. Social security numbers shall not: (1) Be posted or displayed in public; (2) Be required to be transmitted over the Internet, unless the Internet connection used is secure or the social security number is encrypted; (3) Be required to log onto or access an Internet web site, unless used in combination with a password or other authentication device; (4) Be printed on any materials mailed to a consumer, unless the disclosure is required by law, or the document is a form or application; or (5) Be printed on any check, card, identification, or badge that the consumer must display or present in order to receive a benefit, good, service or other thing of value to which the consumer is entitled based upon the consumer's contract or other agreement with the entity issuing the check, card, identification, or badge.
(1) Be posted or displayed in public;
(2) Be required to be transmitted over the Internet, unless the Internet connection used is secure or the social security number is encrypted;
(3) Be required to log onto or access an Internet web site, unless used in combination with a password or other authentication device;
(4) Be printed on any materials mailed to a consumer, unless the disclosure is required by law, or the document is a form or application; or
(5) Be printed on any check, card, identification, or badge that the consumer must display or present in order to receive a benefit, good, service or other thing of value to which the consumer is entitled based upon the consumer's contract or other agreement with the entity issuing the check, card, identification, or badge.
(b) The requirements established pursuant to subsection (a) shall not apply: (1) To the disclosure of a federal social security number by an entity so long as the disclosure is for a legitimate business or governmental purpose and occurs pursuant to the terms of a business or governmental contract or other lawful legal obligation; or (2) If the: (A) Person gives permission, in writing; (B) Disclosure is authorized or required under state or federal law; or (C) Disclosure is made: (i) To a consumer reporting agency as defined by the federal Fair Credit Reporting Act ( 15 U.S.C. § 1681 et seq.); (ii) To a financial institution subject to the privacy provisions of the federal Gramm-Leach-Bliley Act ( 15 U.S.C. § 6802 ); or (iii) To a financial institution subject to the International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001 ( 31 U.S.C. § 5311 et seq.).
(1) To the disclosure of a federal social security number by an entity so long as the disclosure is for a legitimate business or governmental purpose and occurs pursuant to the terms of a business or governmental contract or other lawful legal obligation; or
(2) If the: (A) Person gives permission, in writing; (B) Disclosure is authorized or required under state or federal law; or (C) Disclosure is made: (i) To a consumer reporting agency as defined by the federal Fair Credit Reporting Act ( 15 U.S.C. § 1681 et seq.); (ii) To a financial institution subject to the privacy provisions of the federal Gramm-Leach-Bliley Act ( 15 U.S.C. § 6802 ); or (iii) To a financial institution subject to the International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001 ( 31 U.S.C. § 5311 et seq.).
(A) Person gives permission, in writing;
(B) Disclosure is authorized or required under state or federal law; or
(C) Disclosure is made: (i) To a consumer reporting agency as defined by the federal Fair Credit Reporting Act ( 15 U.S.C. § 1681 et seq.); (ii) To a financial institution subject to the privacy provisions of the federal Gramm-Leach-Bliley Act ( 15 U.S.C. § 6802 ); or (iii) To a financial institution subject to the International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001 ( 31 U.S.C. § 5311 et seq.).
(i) To a consumer reporting agency as defined by the federal Fair Credit Reporting Act ( 15 U.S.C. § 1681 et seq.);
(ii) To a financial institution subject to the privacy provisions of the federal Gramm-Leach-Bliley Act ( 15 U.S.C. § 6802 ); or
(iii) To a financial institution subject to the International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001 ( 31 U.S.C. § 5311 et seq.).
(c) On and after January 1, 2009, a violation of subsection (a) is a Class B misdemeanor. Each violation of subsection (a) shall constitute a separate offense.
(d) In addition to the criminal offense created pursuant to subsections (a) and (b), on and after January 1, 2009, it is also a civil violation of this part, subject to the penalty provided in this part, for any person, any nonprofit or for profit business entity in this state, including, but not limited to, any sole proprietorship, partnership, limited liability company, or corporation, engaged in any business, including, but not limited to, health care, to violate any of the prohibitions of subsection (a).
(e) Any state agency or nonprofit or for profit business entity engaged in the provision of health care services under Title XIX, including determining eligibility for Title XIX services, shall be exempted from the requirements of subsections (a) and (b).
Amended by 2015 Tenn. Acts, ch. 127, s 2, eff. 7/1/2015.
Amended by 2015 Tenn. Acts, ch. 127, s 1, eff. 7/1/2015.
Acts 2007 , ch. 170, § 6; 2009 , ch. 269, § 1.
Tenn. Code Ann. § 47-4-407 — TN Code / Title 47 / Chapter 4 / Section 47-4-407
Payor bank's right to subrogation on improper payment
Status: in_force

If a payor bank has paid an item over the order of the drawer or maker to stop payment, or after an account has been closed, or otherwise under circumstances giving a basis for objection by the drawer or maker, to prevent unjust enrichment and only to the extent necessary to prevent loss to the bank by reason of its payment of the item, the payor bank is subrogated to the rights: (1) of any holder in due course on the item against the drawer or maker; (2) of the payee or any other holder of the item against the drawer or maker either on the item or under the transaction out of which the item arose; and (3) of the drawer or maker against the payee or any other holder of the item with respect to the transaction out of which the item arose. Acts 1963, ch. 81, § 1 (4-407); 1995, ch. 397, § 3.
If a payor bank has paid an item over the order of the drawer or maker to stop payment, or after an account has been closed, or otherwise under circumstances giving a basis for objection by the drawer or maker, to prevent unjust enrichment and only to the extent necessary to prevent loss to the bank by reason of its payment of the item, the payor bank is subrogated to the rights:
(1) of any holder in due course on the item against the drawer or maker;
(2) of the payee or any other holder of the item against the drawer or maker either on the item or under the transaction out of which the item arose; and
(3) of the drawer or maker against the payee or any other holder of the item with respect to the transaction out of which the item arose.
Acts 1963, ch. 81, § 1 (4-407); 1995, ch. 397, § 3.
Tenn. Code Ann. § 47-13-108 — TN Code / Title 47 / Chapter 13 / Section 47-13-108
Applicability of Sections 47-13-103 - 47-13-109
Status: in_force

Nothing in §§ 47-13-103 - 47-13-109 shall be construed to exempt trustees or assignees from qualifying, giving bond, and returning inventories, as prescribed by law, nor shall these sections be construed to make them applicable to deeds or mortgages given purely as security for money lent or advanced, but the sections apply only to conveyances made for the benefit of creditors. Acts 1899, ch. 371, § 6; Shan., § 3524a6; Code 1932, § 7780; T.C.A. (orig. ed.), § 47-1508.
Nothing in §§ 47-13-103 - 47-13-109 shall be construed to exempt trustees or assignees from qualifying, giving bond, and returning inventories, as prescribed by law, nor shall these sections be construed to make them applicable to deeds or mortgages given purely as security for money lent or advanced, but the sections apply only to conveyances made for the benefit of creditors.
Acts 1899, ch. 371, § 6; Shan., § 3524a6; Code 1932, § 7780; T.C.A. (orig. ed.), § 47-1508.
Tenn. Code Ann. § 47-50-102 — TN Code / Title 47 / Chapter 50 / Section 47-50-102
Assignable instruments - Suit by assignee
Status: in_force

Bonds with collateral conditions, bills or notes for specific articles or the performance of any duty, nonnegotiable notes for money and accepted orders shall be assignable, and suit may be prosecuted by the assignee in the assignee's own name. Code 1858, § 1967 (deriv. Acts 1801, ch. 6, § 54); Shan., §3516; mod. Code 1932, § 7321; T.C.A. (orig. ed.), §§ 47-801, 47-15-102.
Bonds with collateral conditions, bills or notes for specific articles or the performance of any duty, nonnegotiable notes for money and accepted orders shall be assignable, and suit may be prosecuted by the assignee in the assignee's own name.
Code 1858, § 1967 (deriv. Acts 1801, ch. 6, § 54); Shan., §3516; mod. Code 1932, § 7321; T.C.A. (orig. ed.), §§ 47-801, 47-15-102.
Tenn. Code Ann. § 47-18-5304 — TN Code / Title 47 / Chapter 18 / Section 47-18-5304
Violations - Application and construction
Status: in_force

(a) A violation of this part constitutes a violation of the Tennessee Consumer Protection Act of 1977, compiled in part 1 of this chapter. (b) For the purpose of application of the Tennessee Consumer Protection Act of 1977, any violation of this part shall be construed to constitute an unfair or deceptive act or practice affecting the conduct of trade or commerce and subject to the penalties and remedies as provided by that act. The attorney general may assess a civil penalty of not less than five thousand dollars ($5,000) nor more than fifteen thousand dollars ($15,000) for a violation of this part. For purposes of this part, each performance in violation of this part constitutes a separate violation of this part. The civil penalties recoverable by this state under this part are supplemental and cumulative to any other available civil or criminal penalties and relief available under other laws, regulations and rules, including, but not limited to, those available pursuant to § 47-18-108 . Amended by 2019 Tenn. Acts, ch. 459,s 52, eff. 9/30/2019. Acts 2007, ch. 277, § 1.
(a) A violation of this part constitutes a violation of the Tennessee Consumer Protection Act of 1977, compiled in part 1 of this chapter.
(b) For the purpose of application of the Tennessee Consumer Protection Act of 1977, any violation of this part shall be construed to constitute an unfair or deceptive act or practice affecting the conduct of trade or commerce and subject to the penalties and remedies as provided by that act. The attorney general may assess a civil penalty of not less than five thousand dollars ($5,000) nor more than fifteen thousand dollars ($15,000) for a violation of this part. For purposes of this part, each performance in violation of this part constitutes a separate violation of this part. The civil penalties recoverable by this state under this part are supplemental and cumulative to any other available civil or criminal penalties and relief available under other laws, regulations and rules, including, but not limited to, those available pursuant to § 47-18-108 .
Amended by 2019 Tenn. Acts, ch. 459,s 52, eff. 9/30/2019.
Acts 2007, ch. 277, § 1.
Tenn. Code Ann. § 47-7-507 — TN Code / Title 47 / Chapter 7 / Section 47-7-507
Warranties on negotiation or delivery of document of title
Status: in_force

If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under § 47-7-508 , unless otherwise agreed, the transferor, in addition to any warranty made in selling or leasing the goods, warrants to its immediate purchaser only that: (1) The document is genuine; (2) The transferor does not have knowledge of any fact that would impair the document's validity or worth; and (3) The negotiation or delivery is rightful and fully effective with respect to the title to the document and the goods it represents. Acts 2008, ch. 814, § 1.
If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under § 47-7-508 , unless otherwise agreed, the transferor, in addition to any warranty made in selling or leasing the goods, warrants to its immediate purchaser only that:
(1) The document is genuine;
(2) The transferor does not have knowledge of any fact that would impair the document's validity or worth; and
(3) The negotiation or delivery is rightful and fully effective with respect to the title to the document and the goods it represents.
Acts 2008, ch. 814, § 1.
Tenn. Code Ann. § 47-1-310 — TN Code / Title 47 / Chapter 1 / Section 47-1-310
Subordinated obligations
Status: in_force

An obligation may be issued as subordinated to performance of another obligation of the person obligated, or a creditor may subordinate its right to performance of an obligation by agreement with either the person obligated or another creditor of the person obligated. Subordination does not create a security interest as against either the common debtor or a subordinated creditor. Acts 2008, ch. 930, § 1.
An obligation may be issued as subordinated to performance of another obligation of the person obligated, or a creditor may subordinate its right to performance of an obligation by agreement with either the person obligated or another creditor of the person obligated. Subordination does not create a security interest as against either the common debtor or a subordinated creditor.
Acts 2008, ch. 930, § 1.
Tenn. Code Ann. § 47-28-108 — TN Code / Title 47 / Chapter 28 / Section 47-28-108
Priority of advances
Status: in_force

(a) Any advance made by the creditor: (1) Before the effective date of any notice of limitation from the borrower, made in accordance with this chapter; or (2) In response to a request or demand initiated by the borrower prior to the service of an effective notice of limitation, made in accordance with this chapter, shall be entitled to the same priority as other advances made under that agreement, even though that advance increases the total amount of principal indebtedness beyond the credit limit fixed in that notice of limitation. (b) Any advance made by a creditor after the effective date of a notice of limitation (except for advances made in response to requests or demands initiated by the borrower prior to the service of an effective notice of limitation) that exceeds the credit limit stated in the notice shall not be entitled to priority over a conveyance or encumbrance recorded on or before the date of the service of the notice of limitation. (c) An advance is made by the creditor when the borrower becomes obligated to repay it. Acts 1987, ch. 137, § 8.
(a) Any advance made by the creditor: (1) Before the effective date of any notice of limitation from the borrower, made in accordance with this chapter; or (2) In response to a request or demand initiated by the borrower prior to the service of an effective notice of limitation, made in accordance with this chapter, shall be entitled to the same priority as other advances made under that agreement, even though that advance increases the total amount of principal indebtedness beyond the credit limit fixed in that notice of limitation.
(1) Before the effective date of any notice of limitation from the borrower, made in accordance with this chapter; or
(2) In response to a request or demand initiated by the borrower prior to the service of an effective notice of limitation, made in accordance with this chapter, shall be entitled to the same priority as other advances made under that agreement, even though that advance increases the total amount of principal indebtedness beyond the credit limit fixed in that notice of limitation.
shall be entitled to the same priority as other advances made under that agreement, even though that advance increases the total amount of principal indebtedness beyond the credit limit fixed in that notice of limitation.
(b) Any advance made by a creditor after the effective date of a notice of limitation (except for advances made in response to requests or demands initiated by the borrower prior to the service of an effective notice of limitation) that exceeds the credit limit stated in the notice shall not be entitled to priority over a conveyance or encumbrance recorded on or before the date of the service of the notice of limitation.
(c) An advance is made by the creditor when the borrower becomes obligated to repay it.
Acts 1987, ch. 137, § 8.
Tenn. Code Ann. § 47-18-120 — TN Code / Title 47 / Chapter 18 / Section 47-18-120
Definitions - Prizes offered as inducements - Unfair or deceptive practices
Status: in_force

(a) As used in this section, unless the context otherwise requires: (1) "Accepts," "accepted," or "acceptance" means the positive indication by a consumer or person, in response to an offer, that such person agrees to incur a monetary obligation or otherwise begins performance of the terms of the offer; (2) "Initial offer" means the first contact with a consumer or person, whether verbally or in writing; (3) "Prize" means prize, gift, award, incentive promotion or any thing of value. "Prize" includes, but is not limited to, any thing of value offered in a sweepstakes, contest, drawing, incentive offer, premium promotion or similar promotional offer by whatever name the company uses; and (4) "Travel service" means travel-related or tourist-related services, whether for individuals or groups, through vacation or tour packages, or through lodging or travel certificates, vouchers or other devices. (b) This section applies to: (1) Any person engaged in trade or commerce, directly or indirectly, by any means, including, but not limited to, by mail, by telephone, by advertisement, or in person, who offers to a consumer or other person, or represents or leads a consumer or person to believe, that the consumer or person will or may receive any prize as an inducement to purchase a good, service or other product or otherwise incur a monetary obligation, visit a business, attend or listen to a sales presentation or otherwise contact a salesperson; or (2) Any person engaged in trade or commerce, directly or indirectly, by any means, who offers to sell travel services, at wholesale or retail, to a consumer or other person. (c) In addition to and without limiting the prohibitions contained in § 47-18-104 , the following unfair or deceptive acts or practices are declared unlawful and in violation of this part: (1) In an initial offer, the offeror is in violation of this part if the offeror: (A) Fails to clearly and conspicuously state the name and street address of the person making the offer; (B) Represents or leads a person to believe that, when, in fact, the offer is simply a promotional plan designed to make contact with prospective buyers, the person: (i) Is or could be a winner, if those contacted have not won or are not eligible to win; or (ii) Has been "selected" or is otherwise part of a select or special group eligible to receive, claim, or otherwise obtain the prize or travel service, if that person has not been selected or is not part of a select or special group; (C) Represents that a person has won or could win a prize or travel service, has been selected or is eligible to win a prize or travel service or will receive a prize or travel service, if the receipt of the prize or travel service is conditioned upon listening to or observing a sales promotional effort, making a purchase, or incurring any monetary obligation, unless it is clearly and conspicuously disclosed, at the time of the initial offer of the prize or travel service, that an attempt will be made to induce the consumer or person to incur a monetary obligation, including the amount of that monetary obligation; (D) Fails to clearly and conspicuously disclose the approximate verifiable retail price of each prize or travel service or the price of any product offered for sale through the promotional program in a position immediately adjacent to the item when the initial offer is in writing. The approximate verifiable retail value is the price at which the person offering the item can substantiate that a substantial number of these items have been sold at retail by another person or, in the event such substantiation is unavailable, an amount equal to no more than three (3) times the amount actually paid by the sponsor or promoter for the item; (E) Fails to clearly and conspicuously disclose each item's approximate verifiable retail value as defined in subdivision (c)(1)(D), when the initial offer is verbal; (F) Fails to clearly and conspicuously disclose, immediately adjacent to each prize or travel service offered, a statement of the odds, if applicable, in arabic numerals, of receiving each item offered, when the initial offer is in writing. The offeror must also give the recipient a written statement, if applicable, that those offers are not exclusive to the recipient and must disclose to such recipient whether all prizes or travel services will be awarded; (G) Fails to clearly and conspicuously disclose a statement of odds, if applicable, in arabic numerals, of receiving each item offered if the initial offer is verbal. The offeror must make a verbal statement, if applicable, that those offers are not exclusive to the recipient and must disclose to such recipient whether all prizes or travel services will be awarded; (H) Fails to give a recipient a general description of the types and categories of restrictions, qualifications, or other conditions, that must be satisfied before the consumer or person is entitled to receive or use the prize or travel service, or product or service offered; (I) Fails to give a recipient an approximate total of all costs, fees or other monetary obligations that must be satisfied before the consumer or person is entitled to receive or use the prize or travel service, or product or service offered; or (J) Offers lottery winnings to a consumer in exchange for incurring a monetary obligation or making a purchase; (2) Either in an initial offer or, at a minimum, before an offer can be accepted, the offeror is in violation of this part if the offeror fails to clearly and conspicuously state verbally, or in writing, and upon request, in writing: (A) A general description of the types and categories of restrictions, qualifications, or other conditions, that must be satisfied before the consumer or person is entitled to receive or use the prize or travel service, or product or service offered, including: (i) Any deadline by which the recipient must visit the business, attend or listen to the sales presentation or otherwise respond in order to receive the prize or travel service, or product or service offered; (ii) The date or dates on or before which the prize or travel service, product or service offer will terminate or expire and, if applicable, when the prizes or travel services will be awarded; (iii) The approximate duration of any mandatory sales presentation or tour, if applicable; (iv) Any other conditions, such as minimum or maximum age qualifications, financial qualifications, or requirements that, if the recipient is married, both husband and wife must be present or respond in order to receive the prize or travel service, or product or service offered; and (v) All other material rules, terms or restrictions governing an offer that is an inducement to purchase a good, service or other product or to otherwise incur a monetary obligation; (B) The refund, exchange or return policies in regard to any offer that is an inducement to purchase a good, service or other product or otherwise incur a monetary obligation; and (C) The approximate total of costs, fees or other monetary obligations that must be satisfied before the consumer or person is entitled to receive or use the prize or travel service, or product or service offered, including, but not limited to, handling, shipping, delivery, freight, postage or processing fees, charges or other additional costs for the receipt or use of the prize or travel service, or product or service offered. This subdivision (c)(2)(C) shall not be construed to require that foreign tax rates be included; (3) The offeror is in violation of this part if at any time the offeror: (A) Misrepresents in any manner the rules, terms, restrictions, monetary obligations or conditions of participation in the promotional plan or offer; (B) Represents that the prize or travel service offered or any product offered for sale through the promotional plan possesses particular features or benefits if it does not, or is of a particular standard, quality, grade, or model, if it is of another; (C) Makes the receipt of an offered prize or travel service contingent upon the consent of individual winners or recipients to allow their names to be used for promotional purposes, or failing to obtain the express written or oral consent of individual winners or recipients before their names are used for a promotional purpose in connection with a mailing to a third person; (D) Refuses to disclose or make available, upon request, the names of the recipients of any prizes or travel services within the geographic area wherein the promotional offers were made; or (E) Fails to award and distribute the prize or travel service, or product or service offered in accordance with the rules, terms and conditions of the offer or promotional program as stated or disclosed in accordance with the above subdivisions; (4) (A) Either in an initial offer for a prize or travel service or, at a minimum, before an offer can be accepted, the offeror is in violation of this part if the offeror fails to clearly and conspicuously state verbally, or in writing, and upon request in writing, uses or makes a statement or representation in the main, primary or emphasized portion of the text of a solicitation, promotion, advertisement or other offering that is contradicted in a disclosure that is not easily read, readily noticeable or presented in small or fine print. (B) If a motor vehicle dealer is in compliance with the advertising regulations of the Tennessee motor vehicle commission, as such regulations exist on July 1, 2003, and as amended from time to time thereafter, subdivision (c)(4)(A) shall not apply to such dealer. (d) In addition to, and without limiting, the foregoing provisions: (1) It is unlawful to require the consumer or person to incur any monetary obligation, excluding nominal postage costs, in order to determine which, if any, prize or travel service the consumer or person is offered or will receive, or to continue to remain eligible to receive any prize or travel service; and (2) Acceptance of an offer is not valid and binding on the consumer unless all of the disclosures required in subsection (c) have been made. (e) Subdivisions (c)(1)(D), (E), and (I), and (c)(2)(B) and (C) do not apply in a promotion for books, records, videos or magazines when the person has the right to review the merchandise without obligation for at least seven (7) days and the right to return without charge any undamaged merchandise. (f) This section does not apply to: (1) Advertising and promotional plans of persons covered by the Tennessee Time-Share Act of 1981, compiled in title 66, chapter 32, part 1, and the Membership Camping Act, compiled in title 66, ch. 32, part 3; and (2) Retail promotions which offer savings on consumer goods or services, including "one-cent sales," "two-for-the-price-of-one sales," or a manufacturer's "cents-off" coupons, when the consumer accepts the offer on-site. The burden of proving these exemptions is upon the person claiming the exemption. (g) Notwithstanding any other law, a violation of this section constitutes an unfair deceptive act or practice, and without limiting the scope of § 47-18-104 shall be punishable by a civil penalty of a minimum of one thousand dollars ($1,000) to a maximum of ten (10) times the amount collected or requested by the offeror for each violation. Acts 1993, ch. 180, § 2; 1998, ch. 627, §§ 1, 2; 2003, ch. 240, § 1.
(a) As used in this section, unless the context otherwise requires: (1) "Accepts," "accepted," or "acceptance" means the positive indication by a consumer or person, in response to an offer, that such person agrees to incur a monetary obligation or otherwise begins performance of the terms of the offer; (2) "Initial offer" means the first contact with a consumer or person, whether verbally or in writing; (3) "Prize" means prize, gift, award, incentive promotion or any thing of value. "Prize" includes, but is not limited to, any thing of value offered in a sweepstakes, contest, drawing, incentive offer, premium promotion or similar promotional offer by whatever name the company uses; and (4) "Travel service" means travel-related or tourist-related services, whether for individuals or groups, through vacation or tour packages, or through lodging or travel certificates, vouchers or other devices.
(1) "Accepts," "accepted," or "acceptance" means the positive indication by a consumer or person, in response to an offer, that such person agrees to incur a monetary obligation or otherwise begins performance of the terms of the offer;
(2) "Initial offer" means the first contact with a consumer or person, whether verbally or in writing;
(3) "Prize" means prize, gift, award, incentive promotion or any thing of value. "Prize" includes, but is not limited to, any thing of value offered in a sweepstakes, contest, drawing, incentive offer, premium promotion or similar promotional offer by whatever name the company uses; and
(4) "Travel service" means travel-related or tourist-related services, whether for individuals or groups, through vacation or tour packages, or through lodging or travel certificates, vouchers or other devices.
(b) This section applies to: (1) Any person engaged in trade or commerce, directly or indirectly, by any means, including, but not limited to, by mail, by telephone, by advertisement, or in person, who offers to a consumer or other person, or represents or leads a consumer or person to believe, that the consumer or person will or may receive any prize as an inducement to purchase a good, service or other product or otherwise incur a monetary obligation, visit a business, attend or listen to a sales presentation or otherwise contact a salesperson; or (2) Any person engaged in trade or commerce, directly or indirectly, by any means, who offers to sell travel services, at wholesale or retail, to a consumer or other person.
(1) Any person engaged in trade or commerce, directly or indirectly, by any means, including, but not limited to, by mail, by telephone, by advertisement, or in person, who offers to a consumer or other person, or represents or leads a consumer or person to believe, that the consumer or person will or may receive any prize as an inducement to purchase a good, service or other product or otherwise incur a monetary obligation, visit a business, attend or listen to a sales presentation or otherwise contact a salesperson; or
(2) Any person engaged in trade or commerce, directly or indirectly, by any means, who offers to sell travel services, at wholesale or retail, to a consumer or other person.
(c) In addition to and without limiting the prohibitions contained in § 47-18-104 , the following unfair or deceptive acts or practices are declared unlawful and in violation of this part: (1) In an initial offer, the offeror is in violation of this part if the offeror: (A) Fails to clearly and conspicuously state the name and street address of the person making the offer; (B) Represents or leads a person to believe that, when, in fact, the offer is simply a promotional plan designed to make contact with prospective buyers, the person: (i) Is or could be a winner, if those contacted have not won or are not eligible to win; or (ii) Has been "selected" or is otherwise part of a select or special group eligible to receive, claim, or otherwise obtain the prize or travel service, if that person has not been selected or is not part of a select or special group; (C) Represents that a person has won or could win a prize or travel service, has been selected or is eligible to win a prize or travel service or will receive a prize or travel service, if the receipt of the prize or travel service is conditioned upon listening to or observing a sales promotional effort, making a purchase, or incurring any monetary obligation, unless it is clearly and conspicuously disclosed, at the time of the initial offer of the prize or travel service, that an attempt will be made to induce the consumer or person to incur a monetary obligation, including the amount of that monetary obligation; (D) Fails to clearly and conspicuously disclose the approximate verifiable retail price of each prize or travel service or the price of any product offered for sale through the promotional program in a position immediately adjacent to the item when the initial offer is in writing. The approximate verifiable retail value is the price at which the person offering the item can substantiate that a substantial number of these items have been sold at retail by another person or, in the event such substantiation is unavailable, an amount equal to no more than three (3) times the amount actually paid by the sponsor or promoter for the item; (E) Fails to clearly and conspicuously disclose each item's approximate verifiable retail value as defined in subdivision (c)(1)(D), when the initial offer is verbal; (F) Fails to clearly and conspicuously disclose, immediately adjacent to each prize or travel service offered, a statement of the odds, if applicable, in arabic numerals, of receiving each item offered, when the initial offer is in writing. The offeror must also give the recipient a written statement, if applicable, that those offers are not exclusive to the recipient and must disclose to such recipient whether all prizes or travel services will be awarded; (G) Fails to clearly and conspicuously disclose a statement of odds, if applicable, in arabic numerals, of receiving each item offered if the initial offer is verbal. The offeror must make a verbal statement, if applicable, that those offers are not exclusive to the recipient and must disclose to such recipient whether all prizes or travel services will be awarded; (H) Fails to give a recipient a general description of the types and categories of restrictions, qualifications, or other conditions, that must be satisfied before the consumer or person is entitled to receive or use the prize or travel service, or product or service offered; (I) Fails to give a recipient an approximate total of all costs, fees or other monetary obligations that must be satisfied before the consumer or person is entitled to receive or use the prize or travel service, or product or service offered; or (J) Offers lottery winnings to a consumer in exchange for incurring a monetary obligation or making a purchase; (2) Either in an initial offer or, at a minimum, before an offer can be accepted, the offeror is in violation of this part if the offeror fails to clearly and conspicuously state verbally, or in writing, and upon request, in writing: (A) A general description of the types and categories of restrictions, qualifications, or other conditions, that must be satisfied before the consumer or person is entitled to receive or use the prize or travel service, or product or service offered, including: (i) Any deadline by which the recipient must visit the business, attend or listen to the sales presentation or otherwise respond in order to receive the prize or travel service, or product or service offered; (ii) The date or dates on or before which the prize or travel service, product or service offer will terminate or expire and, if applicable, when the prizes or travel services will be awarded; (iii) The approximate duration of any mandatory sales presentation or tour, if applicable; (iv) Any other conditions, such as minimum or maximum age qualifications, financial qualifications, or requirements that, if the recipient is married, both husband and wife must be present or respond in order to receive the prize or travel service, or product or service offered; and (v) All other material rules, terms or restrictions governing an offer that is an inducement to purchase a good, service or other product or to otherwise incur a monetary obligation; (B) The refund, exchange or return policies in regard to any offer that is an inducement to purchase a good, service or other product or otherwise incur a monetary obligation; and (C) The approximate total of costs, fees or other monetary obligations that must be satisfied before the consumer or person is entitled to receive or use the prize or travel service, or product or service offered, including, but not limited to, handling, shipping, delivery, freight, postage or processing fees, charges or other additional costs for the receipt or use of the prize or travel service, or product or service offered. This subdivision (c)(2)(C) shall not be construed to require that foreign tax rates be included; (3) The offeror is in violation of this part if at any time the offeror: (A) Misrepresents in any manner the rules, terms, restrictions, monetary obligations or conditions of participation in the promotional plan or offer; (B) Represents that the prize or travel service offered or any product offered for sale through the promotional plan possesses particular features or benefits if it does not, or is of a particular standard, quality, grade, or model, if it is of another; (C) Makes the receipt of an offered prize or travel service contingent upon the consent of individual winners or recipients to allow their names to be used for promotional purposes, or failing to obtain the express written or oral consent of individual winners or recipients before their names are used for a promotional purpose in connection with a mailing to a third person; (D) Refuses to disclose or make available, upon request, the names of the recipients of any prizes or travel services within the geographic area wherein the promotional offers were made; or (E) Fails to award and distribute the prize or travel service, or product or service offered in accordance with the rules, terms and conditions of the offer or promotional program as stated or disclosed in accordance with the above subdivisions; (4) (A) Either in an initial offer for a prize or travel service or, at a minimum, before an offer can be accepted, the offeror is in violation of this part if the offeror fails to clearly and conspicuously state verbally, or in writing, and upon request in writing, uses or makes a statement or representation in the main, primary or emphasized portion of the text of a solicitation, promotion, advertisement or other offering that is contradicted in a disclosure that is not easily read, readily noticeable or presented in small or fine print. (B) If a motor vehicle dealer is in compliance with the advertising regulations of the Tennessee motor vehicle commission, as such regulations exist on July 1, 2003, and as amended from time to time thereafter, subdivision (c)(4)(A) shall not apply to such dealer.
(1) In an initial offer, the offeror is in violation of this part if the offeror: (A) Fails to clearly and conspicuously state the name and street address of the person making the offer; (B) Represents or leads a person to believe that, when, in fact, the offer is simply a promotional plan designed to make contact with prospective buyers, the person: (i) Is or could be a winner, if those contacted have not won or are not eligible to win; or (ii) Has been "selected" or is otherwise part of a select or special group eligible to receive, claim, or otherwise obtain the prize or travel service, if that person has not been selected or is not part of a select or special group; (C) Represents that a person has won or could win a prize or travel service, has been selected or is eligible to win a prize or travel service or will receive a prize or travel service, if the receipt of the prize or travel service is conditioned upon listening to or observing a sales promotional effort, making a purchase, or incurring any monetary obligation, unless it is clearly and conspicuously disclosed, at the time of the initial offer of the prize or travel service, that an attempt will be made to induce the consumer or person to incur a monetary obligation, including the amount of that monetary obligation; (D) Fails to clearly and conspicuously disclose the approximate verifiable retail price of each prize or travel service or the price of any product offered for sale through the promotional program in a position immediately adjacent to the item when the initial offer is in writing. The approximate verifiable retail value is the price at which the person offering the item can substantiate that a substantial number of these items have been sold at retail by another person or, in the event such substantiation is unavailable, an amount equal to no more than three (3) times the amount actually paid by the sponsor or promoter for the item; (E) Fails to clearly and conspicuously disclose each item's approximate verifiable retail value as defined in subdivision (c)(1)(D), when the initial offer is verbal; (F) Fails to clearly and conspicuously disclose, immediately adjacent to each prize or travel service offered, a statement of the odds, if applicable, in arabic numerals, of receiving each item offered, when the initial offer is in writing. The offeror must also give the recipient a written statement, if applicable, that those offers are not exclusive to the recipient and must disclose to such recipient whether all prizes or travel services will be awarded; (G) Fails to clearly and conspicuously disclose a statement of odds, if applicable, in arabic numerals, of receiving each item offered if the initial offer is verbal. The offeror must make a verbal statement, if applicable, that those offers are not exclusive to the recipient and must disclose to such recipient whether all prizes or travel services will be awarded; (H) Fails to give a recipient a general description of the types and categories of restrictions, qualifications, or other conditions, that must be satisfied before the consumer or person is entitled to receive or use the prize or travel service, or product or service offered; (I) Fails to give a recipient an approximate total of all costs, fees or other monetary obligations that must be satisfied before the consumer or person is entitled to receive or use the prize or travel service, or product or service offered; or (J) Offers lottery winnings to a consumer in exchange for incurring a monetary obligation or making a purchase;
(A) Fails to clearly and conspicuously state the name and street address of the person making the offer;
(B) Represents or leads a person to believe that, when, in fact, the offer is simply a promotional plan designed to make contact with prospective buyers, the person: (i) Is or could be a winner, if those contacted have not won or are not eligible to win; or (ii) Has been "selected" or is otherwise part of a select or special group eligible to receive, claim, or otherwise obtain the prize or travel service, if that person has not been selected or is not part of a select or special group;
(i) Is or could be a winner, if those contacted have not won or are not eligible to win; or
(ii) Has been "selected" or is otherwise part of a select or special group eligible to receive, claim, or otherwise obtain the prize or travel service, if that person has not been selected or is not part of a select or special group;
(C) Represents that a person has won or could win a prize or travel service, has been selected or is eligible to win a prize or travel service or will receive a prize or travel service, if the receipt of the prize or travel service is conditioned upon listening to or observing a sales promotional effort, making a purchase, or incurring any monetary obligation, unless it is clearly and conspicuously disclosed, at the time of the initial offer of the prize or travel service, that an attempt will be made to induce the consumer or person to incur a monetary obligation, including the amount of that monetary obligation;
(D) Fails to clearly and conspicuously disclose the approximate verifiable retail price of each prize or travel service or the price of any product offered for sale through the promotional program in a position immediately adjacent to the item when the initial offer is in writing. The approximate verifiable retail value is the price at which the person offering the item can substantiate that a substantial number of these items have been sold at retail by another person or, in the event such substantiation is unavailable, an amount equal to no more than three (3) times the amount actually paid by the sponsor or promoter for the item;
(E) Fails to clearly and conspicuously disclose each item's approximate verifiable retail value as defined in subdivision (c)(1)(D), when the initial offer is verbal;
(F) Fails to clearly and conspicuously disclose, immediately adjacent to each prize or travel service offered, a statement of the odds, if applicable, in arabic numerals, of receiving each item offered, when the initial offer is in writing. The offeror must also give the recipient a written statement, if applicable, that those offers are not exclusive to the recipient and must disclose to such recipient whether all prizes or travel services will be awarded;
(G) Fails to clearly and conspicuously disclose a statement of odds, if applicable, in arabic numerals, of receiving each item offered if the initial offer is verbal. The offeror must make a verbal statement, if applicable, that those offers are not exclusive to the recipient and must disclose to such recipient whether all prizes or travel services will be awarded;
(H) Fails to give a recipient a general description of the types and categories of restrictions, qualifications, or other conditions, that must be satisfied before the consumer or person is entitled to receive or use the prize or travel service, or product or service offered;
(I) Fails to give a recipient an approximate total of all costs, fees or other monetary obligations that must be satisfied before the consumer or person is entitled to receive or use the prize or travel service, or product or service offered; or
(J) Offers lottery winnings to a consumer in exchange for incurring a monetary obligation or making a purchase;
(2) Either in an initial offer or, at a minimum, before an offer can be accepted, the offeror is in violation of this part if the offeror fails to clearly and conspicuously state verbally, or in writing, and upon request, in writing: (A) A general description of the types and categories of restrictions, qualifications, or other conditions, that must be satisfied before the consumer or person is entitled to receive or use the prize or travel service, or product or service offered, including: (i) Any deadline by which the recipient must visit the business, attend or listen to the sales presentation or otherwise respond in order to receive the prize or travel service, or product or service offered; (ii) The date or dates on or before which the prize or travel service, product or service offer will terminate or expire and, if applicable, when the prizes or travel services will be awarded; (iii) The approximate duration of any mandatory sales presentation or tour, if applicable; (iv) Any other conditions, such as minimum or maximum age qualifications, financial qualifications, or requirements that, if the recipient is married, both husband and wife must be present or respond in order to receive the prize or travel service, or product or service offered; and (v) All other material rules, terms or restrictions governing an offer that is an inducement to purchase a good, service or other product or to otherwise incur a monetary obligation; (B) The refund, exchange or return policies in regard to any offer that is an inducement to purchase a good, service or other product or otherwise incur a monetary obligation; and (C) The approximate total of costs, fees or other monetary obligations that must be satisfied before the consumer or person is entitled to receive or use the prize or travel service, or product or service offered, including, but not limited to, handling, shipping, delivery, freight, postage or processing fees, charges or other additional costs for the receipt or use of the prize or travel service, or product or service offered. This subdivision (c)(2)(C) shall not be construed to require that foreign tax rates be included;
(A) A general description of the types and categories of restrictions, qualifications, or other conditions, that must be satisfied before the consumer or person is entitled to receive or use the prize or travel service, or product or service offered, including: (i) Any deadline by which the recipient must visit the business, attend or listen to the sales presentation or otherwise respond in order to receive the prize or travel service, or product or service offered; (ii) The date or dates on or before which the prize or travel service, product or service offer will terminate or expire and, if applicable, when the prizes or travel services will be awarded; (iii) The approximate duration of any mandatory sales presentation or tour, if applicable; (iv) Any other conditions, such as minimum or maximum age qualifications, financial qualifications, or requirements that, if the recipient is married, both husband and wife must be present or respond in order to receive the prize or travel service, or product or service offered; and (v) All other material rules, terms or restrictions governing an offer that is an inducement to purchase a good, service or other product or to otherwise incur a monetary obligation;
(i) Any deadline by which the recipient must visit the business, attend or listen to the sales presentation or otherwise respond in order to receive the prize or travel service, or product or service offered;
(ii) The date or dates on or before which the prize or travel service, product or service offer will terminate or expire and, if applicable, when the prizes or travel services will be awarded;
(iii) The approximate duration of any mandatory sales presentation or tour, if applicable;
(iv) Any other conditions, such as minimum or maximum age qualifications, financial qualifications, or requirements that, if the recipient is married, both husband and wife must be present or respond in order to receive the prize or travel service, or product or service offered; and
(v) All other material rules, terms or restrictions governing an offer that is an inducement to purchase a good, service or other product or to otherwise incur a monetary obligation;
(B) The refund, exchange or return policies in regard to any offer that is an inducement to purchase a good, service or other product or otherwise incur a monetary obligation; and
(C) The approximate total of costs, fees or other monetary obligations that must be satisfied before the consumer or person is entitled to receive or use the prize or travel service, or product or service offered, including, but not limited to, handling, shipping, delivery, freight, postage or processing fees, charges or other additional costs for the receipt or use of the prize or travel service, or product or service offered. This subdivision (c)(2)(C) shall not be construed to require that foreign tax rates be included;
(3) The offeror is in violation of this part if at any time the offeror: (A) Misrepresents in any manner the rules, terms, restrictions, monetary obligations or conditions of participation in the promotional plan or offer; (B) Represents that the prize or travel service offered or any product offered for sale through the promotional plan possesses particular features or benefits if it does not, or is of a particular standard, quality, grade, or model, if it is of another; (C) Makes the receipt of an offered prize or travel service contingent upon the consent of individual winners or recipients to allow their names to be used for promotional purposes, or failing to obtain the express written or oral consent of individual winners or recipients before their names are used for a promotional purpose in connection with a mailing to a third person; (D) Refuses to disclose or make available, upon request, the names of the recipients of any prizes or travel services within the geographic area wherein the promotional offers were made; or (E) Fails to award and distribute the prize or travel service, or product or service offered in accordance with the rules, terms and conditions of the offer or promotional program as stated or disclosed in accordance with the above subdivisions;
(A) Misrepresents in any manner the rules, terms, restrictions, monetary obligations or conditions of participation in the promotional plan or offer;
(B) Represents that the prize or travel service offered or any product offered for sale through the promotional plan possesses particular features or benefits if it does not, or is of a particular standard, quality, grade, or model, if it is of another;
(C) Makes the receipt of an offered prize or travel service contingent upon the consent of individual winners or recipients to allow their names to be used for promotional purposes, or failing to obtain the express written or oral consent of individual winners or recipients before their names are used for a promotional purpose in connection with a mailing to a third person;
(D) Refuses to disclose or make available, upon request, the names of the recipients of any prizes or travel services within the geographic area wherein the promotional offers were made; or
(E) Fails to award and distribute the prize or travel service, or product or service offered in accordance with the rules, terms and conditions of the offer or promotional program as stated or disclosed in accordance with the above subdivisions;
(4) (A) Either in an initial offer for a prize or travel service or, at a minimum, before an offer can be accepted, the offeror is in violation of this part if the offeror fails to clearly and conspicuously state verbally, or in writing, and upon request in writing, uses or makes a statement or representation in the main, primary or emphasized portion of the text of a solicitation, promotion, advertisement or other offering that is contradicted in a disclosure that is not easily read, readily noticeable or presented in small or fine print. (B) If a motor vehicle dealer is in compliance with the advertising regulations of the Tennessee motor vehicle commission, as such regulations exist on July 1, 2003, and as amended from time to time thereafter, subdivision (c)(4)(A) shall not apply to such dealer.
(A) Either in an initial offer for a prize or travel service or, at a minimum, before an offer can be accepted, the offeror is in violation of this part if the offeror fails to clearly and conspicuously state verbally, or in writing, and upon request in writing, uses or makes a statement or representation in the main, primary or emphasized portion of the text of a solicitation, promotion, advertisement or other offering that is contradicted in a disclosure that is not easily read, readily noticeable or presented in small or fine print.
(B) If a motor vehicle dealer is in compliance with the advertising regulations of the Tennessee motor vehicle commission, as such regulations exist on July 1, 2003, and as amended from time to time thereafter, subdivision (c)(4)(A) shall not apply to such dealer.
(d) In addition to, and without limiting, the foregoing provisions: (1) It is unlawful to require the consumer or person to incur any monetary obligation, excluding nominal postage costs, in order to determine which, if any, prize or travel service the consumer or person is offered or will receive, or to continue to remain eligible to receive any prize or travel service; and (2) Acceptance of an offer is not valid and binding on the consumer unless all of the disclosures required in subsection (c) have been made.
(1) It is unlawful to require the consumer or person to incur any monetary obligation, excluding nominal postage costs, in order to determine which, if any, prize or travel service the consumer or person is offered or will receive, or to continue to remain eligible to receive any prize or travel service; and
(2) Acceptance of an offer is not valid and binding on the consumer unless all of the disclosures required in subsection (c) have been made.
(e) Subdivisions (c)(1)(D), (E), and (I), and (c)(2)(B) and (C) do not apply in a promotion for books, records, videos or magazines when the person has the right to review the merchandise without obligation for at least seven (7) days and the right to return without charge any undamaged merchandise.
(f) This section does not apply to: (1) Advertising and promotional plans of persons covered by the Tennessee Time-Share Act of 1981, compiled in title 66, chapter 32, part 1, and the Membership Camping Act, compiled in title 66, ch. 32, part 3; and (2) Retail promotions which offer savings on consumer goods or services, including "one-cent sales," "two-for-the-price-of-one sales," or a manufacturer's "cents-off" coupons, when the consumer accepts the offer on-site. The burden of proving these exemptions is upon the person claiming the exemption.
(1) Advertising and promotional plans of persons covered by the Tennessee Time-Share Act of 1981, compiled in title 66, chapter 32, part 1, and the Membership Camping Act, compiled in title 66, ch. 32, part 3; and
(2) Retail promotions which offer savings on consumer goods or services, including "one-cent sales," "two-for-the-price-of-one sales," or a manufacturer's "cents-off" coupons, when the consumer accepts the offer on-site. The burden of proving these exemptions is upon the person claiming the exemption.
The burden of proving these exemptions is upon the person claiming the exemption.
(g) Notwithstanding any other law, a violation of this section constitutes an unfair deceptive act or practice, and without limiting the scope of § 47-18-104 shall be punishable by a civil penalty of a minimum of one thousand dollars ($1,000) to a maximum of ten (10) times the amount collected or requested by the offeror for each violation.
Acts 1993, ch. 180, § 2; 1998, ch. 627, §§ 1, 2; 2003, ch. 240, § 1.
Tenn. Code Ann. § 47-4-206 — TN Code / Title 47 / Chapter 4 / Section 47-4-206
Transfer between banks
Status: in_force

Any agreed method that identifies the transferor bank is sufficient for the item's further transfer to another bank. Acts 1963, ch. 81, § 1 (4-206); 1995, ch. 397, § 3.
Any agreed method that identifies the transferor bank is sufficient for the item's further transfer to another bank.
Acts 1963, ch. 81, § 1 (4-206); 1995, ch. 397, § 3.
Tenn. Code Ann. § 47-9-302 — TN Code / Title 47 / Chapter 9 / Section 47-9-302
Law governing perfection and priority of agricultural liens
Status: in_force

While farm products are located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of an agricultural lien on the farm products. Acts 2000, ch. 846, § 1.
While farm products are located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of an agricultural lien on the farm products.
Acts 2000, ch. 846, § 1.
Tenn. Code Ann. § 47-4a-105 — TN Code / Title 47 / Chapter 4a / Section 47-4a-105
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 1 - GENERAL PROVISIONS AND DEFINITIONS (§§ 47-4A-101 — 47-4A-108) Section 47-4A-105 - Other definitions
Status: in_force

(a) In this chapter: (1) "Authorized account" means a deposit account of a customer in a bank designated by the customer as a source of payment of payment orders issued by the customer to the bank. If a customer does not so designate an account, any account of the customer is an authorized account if payment of a payment order from that account is not inconsistent with a restriction on the use of that account; (2) "Bank" means a person engaged in the business of banking and includes a savings bank, savings and loan association, credit union, and trust company. A branch or separate office of a bank is a separate bank for purposes of this chapter; (3) "Customer" means a person, including a bank, having an account with a bank or from whom a bank has agreed to receive payment orders; (4) "Funds-transfer business day" of a receiving bank means the part of a day during which the receiving bank is open for the receipt, processing, and transmittal of payment orders and cancellations and amendments of payment orders; (5) "Funds-transfer system" means a wire transfer network, automated clearinghouse, or other communication system of a clearinghouse or other association of banks through which a payment order by a bank may be transmitted to the bank to which the order is addressed; (6) "Good faith" means honesty in fact and the observance of reasonable commercial standards of fair dealing; and (7) "Prove" with respect to a fact means to meet the burden of establishing the fact (§ 47-1-201(b)(8) ). (b) Other definitions applying to this chapter and the sections in which they appear are: "Acceptance" § 47-4A-209 "Beneficiary" § 47-4A-103 "Beneficiary's bank" § 47-4A-103 "Executed" § 47-4A-301 "Execution date" § 47-4A-301 "Funds transfer" § 47-4A-104 "Funds-transfer system rule" § 47-4A-501 "Intermediary bank" § 47-4A-104 "Originator" § 47-4A-104 "Originator's bank" § 47-4A-104 "Payment by beneficiary's bank to beneficiary" § 47-4A-405 "Payment by originator to beneficiary" § 47-4A-406 "Payment by sender to receiving bank" § 47-4A-403 "Payment date" § 47-4A-401 "Payment order" § 47-4A-103 "Receiving bank" § 47-4A-103 "Security procedure" § 47-4A-201 "Sender" § 47-4A-103 (c) The following definitions in chapter 4 of this title apply to this chapter: "Clearinghouse" § 47-4-104 "Item" § 47-4-104 "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 1991, ch. 52, § 1; 2008 , ch. 930, § 10.
(a) In this chapter: (1) "Authorized account" means a deposit account of a customer in a bank designated by the customer as a source of payment of payment orders issued by the customer to the bank. If a customer does not so designate an account, any account of the customer is an authorized account if payment of a payment order from that account is not inconsistent with a restriction on the use of that account; (2) "Bank" means a person engaged in the business of banking and includes a savings bank, savings and loan association, credit union, and trust company. A branch or separate office of a bank is a separate bank for purposes of this chapter; (3) "Customer" means a person, including a bank, having an account with a bank or from whom a bank has agreed to receive payment orders; (4) "Funds-transfer business day" of a receiving bank means the part of a day during which the receiving bank is open for the receipt, processing, and transmittal of payment orders and cancellations and amendments of payment orders; (5) "Funds-transfer system" means a wire transfer network, automated clearinghouse, or other communication system of a clearinghouse or other association of banks through which a payment order by a bank may be transmitted to the bank to which the order is addressed; (6) "Good faith" means honesty in fact and the observance of reasonable commercial standards of fair dealing; and (7) "Prove" with respect to a fact means to meet the burden of establishing the fact (§ 47-1-201(b)(8) ).
(1) "Authorized account" means a deposit account of a customer in a bank designated by the customer as a source of payment of payment orders issued by the customer to the bank. If a customer does not so designate an account, any account of the customer is an authorized account if payment of a payment order from that account is not inconsistent with a restriction on the use of that account;
(2) "Bank" means a person engaged in the business of banking and includes a savings bank, savings and loan association, credit union, and trust company. A branch or separate office of a bank is a separate bank for purposes of this chapter;
(3) "Customer" means a person, including a bank, having an account with a bank or from whom a bank has agreed to receive payment orders;
(4) "Funds-transfer business day" of a receiving bank means the part of a day during which the receiving bank is open for the receipt, processing, and transmittal of payment orders and cancellations and amendments of payment orders;
(5) "Funds-transfer system" means a wire transfer network, automated clearinghouse, or other communication system of a clearinghouse or other association of banks through which a payment order by a bank may be transmitted to the bank to which the order is addressed;
(6) "Good faith" means honesty in fact and the observance of reasonable commercial standards of fair dealing; and
(7) "Prove" with respect to a fact means to meet the burden of establishing the fact (§ 47-1-201(b)(8) ).
(b) Other definitions applying to this chapter and the sections in which they appear are: "Acceptance" § 47-4A-209 "Beneficiary" § 47-4A-103 "Beneficiary's bank" § 47-4A-103 "Executed" § 47-4A-301 "Execution date" § 47-4A-301 "Funds transfer" § 47-4A-104 "Funds-transfer system rule" § 47-4A-501 "Intermediary bank" § 47-4A-104 "Originator" § 47-4A-104 "Originator's bank" § 47-4A-104 "Payment by beneficiary's bank to beneficiary" § 47-4A-405 "Payment by originator to beneficiary" § 47-4A-406 "Payment by sender to receiving bank" § 47-4A-403 "Payment date" § 47-4A-401 "Payment order" § 47-4A-103 "Receiving bank" § 47-4A-103 "Security procedure" § 47-4A-201 "Sender" § 47-4A-103
"Acceptance" § 47-4A-209 "Beneficiary" § 47-4A-103 "Beneficiary's bank" § 47-4A-103 "Executed" § 47-4A-301 "Execution date" § 47-4A-301 "Funds transfer" § 47-4A-104 "Funds-transfer system rule" § 47-4A-501 "Intermediary bank" § 47-4A-104 "Originator" § 47-4A-104 "Originator's bank" § 47-4A-104 "Payment by beneficiary's bank to beneficiary" § 47-4A-405 "Payment by originator to beneficiary" § 47-4A-406 "Payment by sender to receiving bank" § 47-4A-403 "Payment date" § 47-4A-401 "Payment order" § 47-4A-103 "Receiving bank" § 47-4A-103 "Security procedure" § 47-4A-201 "Sender" § 47-4A-103
"Acceptance"
§ 47-4A-209
"Beneficiary"
§ 47-4A-103
"Beneficiary's bank"
§ 47-4A-103
"Executed"
§ 47-4A-301
"Execution date"
§ 47-4A-301
"Funds transfer"
§ 47-4A-104
"Funds-transfer system rule"
§ 47-4A-501
"Intermediary bank"
§ 47-4A-104
"Originator"
§ 47-4A-104
"Originator's bank"
§ 47-4A-104
"Payment by beneficiary's bank to beneficiary"
§ 47-4A-405
"Payment by originator to beneficiary"
§ 47-4A-406
"Payment by sender to receiving bank"
§ 47-4A-403
"Payment date"
§ 47-4A-401
"Payment order"
§ 47-4A-103
"Receiving bank"
§ 47-4A-103
"Security procedure"
§ 47-4A-201
"Sender"
§ 47-4A-103
(c) The following definitions in chapter 4 of this title apply to this chapter: "Clearinghouse" § 47-4-104 "Item" § 47-4-104 "Suspends payments" § 47-4-104
"Clearinghouse" § 47-4-104 "Item" § 47-4-104 "Suspends payments" § 47-4-104
"Clearinghouse"
§ 47-4-104
"Item"
§ 47-4-104
"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 1991, ch. 52, § 1; 2008 , ch. 930, § 10.
Tenn. Code Ann. § 47-9-503 — TN Code / Title 47 / Chapter 9 / Section 47-9-503
Name of debtor and secured party
Status: in_force

(a) Sufficiency of debtor's name. A financing statement sufficiently provides the name of the debtor: (1) Except as otherwise provided in subdivision (a)(3), if the debtor is a registered organization or the collateral is held in a trust that is a registered organization, only if the financing statement provides the name that is stated to be the registered organization's name on the public organic record most recently filed with or issued or enacted by the registered organization's jurisdiction of organization which purports to state, amend, or restate the registered organization's name; (2) Subject to subsection (f), if the collateral is being administered by the personal representative of a decedent, only if the financing statement provides, as the name of the debtor, the name of the decedent and, in a separate part of the financing statement, indicates that the collateral is being administered by a personal representative; (3) If the collateral is held in a trust that is not a registered organization, only if the financing statement: (A) Provides, as the name of the debtor: (i) If the organic record of the trust specifies a name for the trust, the name specified; or (ii) If the organic record of the trust does not specify a name for the trust, the name of the settlor or testator; and (B) In a separate part of the financing statement: (i) If the name is provided in accordance with subdivision (a)(3)(A)(i), indicates that the collateral is held in a trust; or (ii) If the name is provided in accordance with subdivision (a)(3)(A)(ii), provides additional information sufficient to distinguish the trust from other trusts having one (1) or more of the same settlors or the same testator and indicates that the collateral is held in a trust, unless the additional information so indicates; (4) Subject to subsection (g), if the debtor is an individual to whom this state has issued a driver license or a photo identification license (pursuant to § 55-50-336 ) that has not expired, only if the financing statement provides the name of the individual which is indicated on the driver license or photo identification license; (5) If the debtor is an individual to whom subdivision (a)(4) does not apply, only if the financing statement provides the individual name of the debtor or the surname and first personal name of the debtor; and (6) In other cases: (A) If the debtor has a name, only if the financing statement provides the organizational name of the debtor; and (B) If the debtor does not have a name, only if it provides the names of the partners, members, associates, or other persons comprising the debtor, in a manner that each name provided would be sufficient if the person named were the debtor. (b) Additional debtor-related information. A financing statement that provides the name of the debtor in accordance with subsection (a) is not rendered ineffective by the absence of: (1) A trade name or other name of the debtor; or (2) Unless required under subdivision (a)(6)(B), names of partners, members, associates, or other persons comprising the debtor. (c) Debtor's trade name insufficient. A financing statement that provides only the debtor's trade name does not sufficiently provide the name of the debtor. (d) Representative capacity. Failure to indicate the representative capacity of a secured party or representative of a secured party does not affect the sufficiency of a financing statement. (e) Multiple debtors and secured parties. A financing statement may provide the name of more than one (1) debtor and the name of more than one (1) secured party. (f) Name of decedent. The name of the decedent indicated on the order appointing the personal representative of the decedent issued by the court having jurisdiction over the collateral is sufficient as the "name of the decedent" under subsection (a)(2). (g) Multiple driver licenses or photo identification licenses. If this state has issued to an individual more than one (1) driver license or photo identification license of a kind described in subdivision (a)(4), the one that was issued most recently is the one to which subdivision (a)(4) refers. (h) Definition. In this section, the "name of the settlor or testator" means: (1) If the settlor is a registered organization, the name that is stated to be the settlor's name on the public organic record most recently filed with or issued or enacted by the settlor's jurisdiction of organization which purports to state, amend, or restate the settlor's name; or (2) In other cases, the name of the settlor or testator indicated in the trust's organic record. Acts 2000, ch. 846, § 1; 2008, ch. 648, § 1; 2008, ch. 1109, §§ 1, 2; 2012, ch. 708, § 13.
(a) Sufficiency of debtor's name. A financing statement sufficiently provides the name of the debtor: (1) Except as otherwise provided in subdivision (a)(3), if the debtor is a registered organization or the collateral is held in a trust that is a registered organization, only if the financing statement provides the name that is stated to be the registered organization's name on the public organic record most recently filed with or issued or enacted by the registered organization's jurisdiction of organization which purports to state, amend, or restate the registered organization's name; (2) Subject to subsection (f), if the collateral is being administered by the personal representative of a decedent, only if the financing statement provides, as the name of the debtor, the name of the decedent and, in a separate part of the financing statement, indicates that the collateral is being administered by a personal representative; (3) If the collateral is held in a trust that is not a registered organization, only if the financing statement: (A) Provides, as the name of the debtor: (i) If the organic record of the trust specifies a name for the trust, the name specified; or (ii) If the organic record of the trust does not specify a name for the trust, the name of the settlor or testator; and (B) In a separate part of the financing statement: (i) If the name is provided in accordance with subdivision (a)(3)(A)(i), indicates that the collateral is held in a trust; or (ii) If the name is provided in accordance with subdivision (a)(3)(A)(ii), provides additional information sufficient to distinguish the trust from other trusts having one (1) or more of the same settlors or the same testator and indicates that the collateral is held in a trust, unless the additional information so indicates; (4) Subject to subsection (g), if the debtor is an individual to whom this state has issued a driver license or a photo identification license (pursuant to § 55-50-336 ) that has not expired, only if the financing statement provides the name of the individual which is indicated on the driver license or photo identification license; (5) If the debtor is an individual to whom subdivision (a)(4) does not apply, only if the financing statement provides the individual name of the debtor or the surname and first personal name of the debtor; and (6) In other cases: (A) If the debtor has a name, only if the financing statement provides the organizational name of the debtor; and (B) If the debtor does not have a name, only if it provides the names of the partners, members, associates, or other persons comprising the debtor, in a manner that each name provided would be sufficient if the person named were the debtor.
(1) Except as otherwise provided in subdivision (a)(3), if the debtor is a registered organization or the collateral is held in a trust that is a registered organization, only if the financing statement provides the name that is stated to be the registered organization's name on the public organic record most recently filed with or issued or enacted by the registered organization's jurisdiction of organization which purports to state, amend, or restate the registered organization's name;
(2) Subject to subsection (f), if the collateral is being administered by the personal representative of a decedent, only if the financing statement provides, as the name of the debtor, the name of the decedent and, in a separate part of the financing statement, indicates that the collateral is being administered by a personal representative;
(3) If the collateral is held in a trust that is not a registered organization, only if the financing statement: (A) Provides, as the name of the debtor: (i) If the organic record of the trust specifies a name for the trust, the name specified; or (ii) If the organic record of the trust does not specify a name for the trust, the name of the settlor or testator; and (B) In a separate part of the financing statement: (i) If the name is provided in accordance with subdivision (a)(3)(A)(i), indicates that the collateral is held in a trust; or (ii) If the name is provided in accordance with subdivision (a)(3)(A)(ii), provides additional information sufficient to distinguish the trust from other trusts having one (1) or more of the same settlors or the same testator and indicates that the collateral is held in a trust, unless the additional information so indicates;
(A) Provides, as the name of the debtor: (i) If the organic record of the trust specifies a name for the trust, the name specified; or (ii) If the organic record of the trust does not specify a name for the trust, the name of the settlor or testator; and
(i) If the organic record of the trust specifies a name for the trust, the name specified; or
(ii) If the organic record of the trust does not specify a name for the trust, the name of the settlor or testator; and
(B) In a separate part of the financing statement: (i) If the name is provided in accordance with subdivision (a)(3)(A)(i), indicates that the collateral is held in a trust; or (ii) If the name is provided in accordance with subdivision (a)(3)(A)(ii), provides additional information sufficient to distinguish the trust from other trusts having one (1) or more of the same settlors or the same testator and indicates that the collateral is held in a trust, unless the additional information so indicates;
(i) If the name is provided in accordance with subdivision (a)(3)(A)(i), indicates that the collateral is held in a trust; or
(ii) If the name is provided in accordance with subdivision (a)(3)(A)(ii), provides additional information sufficient to distinguish the trust from other trusts having one (1) or more of the same settlors or the same testator and indicates that the collateral is held in a trust, unless the additional information so indicates;
(4) Subject to subsection (g), if the debtor is an individual to whom this state has issued a driver license or a photo identification license (pursuant to § 55-50-336 ) that has not expired, only if the financing statement provides the name of the individual which is indicated on the driver license or photo identification license;
(5) If the debtor is an individual to whom subdivision (a)(4) does not apply, only if the financing statement provides the individual name of the debtor or the surname and first personal name of the debtor; and
(6) In other cases: (A) If the debtor has a name, only if the financing statement provides the organizational name of the debtor; and (B) If the debtor does not have a name, only if it provides the names of the partners, members, associates, or other persons comprising the debtor, in a manner that each name provided would be sufficient if the person named were the debtor.
(A) If the debtor has a name, only if the financing statement provides the organizational name of the debtor; and
(B) If the debtor does not have a name, only if it provides the names of the partners, members, associates, or other persons comprising the debtor, in a manner that each name provided would be sufficient if the person named were the debtor.
(b) Additional debtor-related information. A financing statement that provides the name of the debtor in accordance with subsection (a) is not rendered ineffective by the absence of: (1) A trade name or other name of the debtor; or (2) Unless required under subdivision (a)(6)(B), names of partners, members, associates, or other persons comprising the debtor.
(1) A trade name or other name of the debtor; or
(2) Unless required under subdivision (a)(6)(B), names of partners, members, associates, or other persons comprising the debtor.
(c) Debtor's trade name insufficient. A financing statement that provides only the debtor's trade name does not sufficiently provide the name of the debtor.
(d) Representative capacity. Failure to indicate the representative capacity of a secured party or representative of a secured party does not affect the sufficiency of a financing statement.
(e) Multiple debtors and secured parties. A financing statement may provide the name of more than one (1) debtor and the name of more than one (1) secured party.
(f) Name of decedent. The name of the decedent indicated on the order appointing the personal representative of the decedent issued by the court having jurisdiction over the collateral is sufficient as the "name of the decedent" under subsection (a)(2).
(g) Multiple driver licenses or photo identification licenses. If this state has issued to an individual more than one (1) driver license or photo identification license of a kind described in subdivision (a)(4), the one that was issued most recently is the one to which subdivision (a)(4) refers.
(h) Definition. In this section, the "name of the settlor or testator" means: (1) If the settlor is a registered organization, the name that is stated to be the settlor's name on the public organic record most recently filed with or issued or enacted by the settlor's jurisdiction of organization which purports to state, amend, or restate the settlor's name; or (2) In other cases, the name of the settlor or testator indicated in the trust's organic record.
In this section, the "name of the settlor or testator" means:
(1) If the settlor is a registered organization, the name that is stated to be the settlor's name on the public organic record most recently filed with or issued or enacted by the settlor's jurisdiction of organization which purports to state, amend, or restate the settlor's name; or
(2) In other cases, the name of the settlor or testator indicated in the trust's organic record.
Acts 2000, ch. 846, § 1; 2008, ch. 648, § 1; 2008, ch. 1109, §§ 1, 2; 2012, ch. 708, § 13.
Tenn. Code Ann. § 47-12-103 — TN Code / Title 47 / Chapter 12 / Section 47-12-103
Death of parties
Status: in_force

Sections 47-12-101 and 47-12-102 shall extend to the representatives of the parties in case of the death of either, or both. Code 1858, § 1970 (deriv. Acts 1801, ch. 18, § 2); Shan., §3519; mod. Code 1932, § 7528; T.C.A. (orig. ed.), § 47-703.
Sections 47-12-101 and 47-12-102 shall extend to the representatives of the parties in case of the death of either, or both.
Code 1858, § 1970 (deriv. Acts 1801, ch. 18, § 2); Shan., §3519; mod. Code 1932, § 7528; T.C.A. (orig. ed.), § 47-703.
Tenn. Code Ann. § 47-25-1205 — TN Code / Title 47 / Chapter 25 / Section 47-25-1205
Written contracts required
Status: in_force

(a) Every contract for invention development services shall be in writing and shall be subject to this part. A copy of the written contract shall be given to the customer at the time the customer signs the contract. (b) If one (1) or more subsequent contracts are contemplated by the invention developer in connection with an invention, or if the invention developer contemplates performance of services in connection with an invention in more than one (1) phase with the performance of each phase covered in one (1) or more subsequent contracts, the invention developer shall so state in writing and shall supply to the customer such writing, together with a copy of such contract or written summary of the general terms of each and every such subsequent contract, including the amount of any fees or other consideration required from the customer, at the time the customer signs the first contract. Acts 1977, ch. 436, § 3; T.C.A., § 47-20-105.
(a) Every contract for invention development services shall be in writing and shall be subject to this part. A copy of the written contract shall be given to the customer at the time the customer signs the contract.
(b) If one (1) or more subsequent contracts are contemplated by the invention developer in connection with an invention, or if the invention developer contemplates performance of services in connection with an invention in more than one (1) phase with the performance of each phase covered in one (1) or more subsequent contracts, the invention developer shall so state in writing and shall supply to the customer such writing, together with a copy of such contract or written summary of the general terms of each and every such subsequent contract, including the amount of any fees or other consideration required from the customer, at the time the customer signs the first contract.
Acts 1977, ch. 436, § 3; T.C.A., § 47-20-105.
Tenn. Code Ann. § 47-18-703 — TN Code / Title 47 / Chapter 18 / Section 47-18-703
Cancellation - Buyer's rights - Exceptions
Status: in_force

Notwithstanding any other law to the contrary: (1) Except as provided in subdivision (5), in addition to any right otherwise to revoke an offer, the buyer has the right to cancel a home solicitation sale until twelve o'clock midnight (12:00) of the third business day after the day on which the buyer signs an agreement or offer to purchase which complies with § 47-18-704 ; (2) Cancellation occurs when the buyer gives written notice of cancellation to the seller at the address stated in the agreement or offer to purchase; (3) Notice of cancellation, if given by mail, is given when it is deposited in a mailbox properly addressed and postage prepaid; (4) Notice of cancellation given by the buyer need not take a particular form and is sufficient if it indicates by any form of written expression the intention of the buyer not to be bound by the home solicitation sale; (5) The buyer may not cancel a home solicitation sale if the buyer requests the seller to provide goods or services without delay because of an emergency, and: (A) The seller in good faith makes a substantial beginning of performance of the contract before the buyer gives notice of cancellation; (B) In the case of goods, the goods cannot be returned to the seller in substantially as good condition as when received by the buyer; and (C) The buyer's emergency request is in a dated writing personally signed by the buyer and which expressly states that the buyer understands that the buyer is waiving the buyer's right to cancel the sale under this part; (6) Except as provided in subdivision (5), any waiver or modification of a buyer's right to cancel is void and of no effect. In the event the seller obtains from the buyer a waiver or modification of the buyer's right to cancel, the buyer's right to cancel shall commence on the first business day following the buyer's learning that the waiver or modification is void and of no effect. Acts 1974, ch. 712, § 3; T.C.A., § 47-16-103 .
Notwithstanding any other law to the contrary:
(1) Except as provided in subdivision (5), in addition to any right otherwise to revoke an offer, the buyer has the right to cancel a home solicitation sale until twelve o'clock midnight (12:00) of the third business day after the day on which the buyer signs an agreement or offer to purchase which complies with § 47-18-704 ;
(2) Cancellation occurs when the buyer gives written notice of cancellation to the seller at the address stated in the agreement or offer to purchase;
(3) Notice of cancellation, if given by mail, is given when it is deposited in a mailbox properly addressed and postage prepaid;
(4) Notice of cancellation given by the buyer need not take a particular form and is sufficient if it indicates by any form of written expression the intention of the buyer not to be bound by the home solicitation sale;
(5) The buyer may not cancel a home solicitation sale if the buyer requests the seller to provide goods or services without delay because of an emergency, and: (A) The seller in good faith makes a substantial beginning of performance of the contract before the buyer gives notice of cancellation; (B) In the case of goods, the goods cannot be returned to the seller in substantially as good condition as when received by the buyer; and (C) The buyer's emergency request is in a dated writing personally signed by the buyer and which expressly states that the buyer understands that the buyer is waiving the buyer's right to cancel the sale under this part;
(A) The seller in good faith makes a substantial beginning of performance of the contract before the buyer gives notice of cancellation;
(B) In the case of goods, the goods cannot be returned to the seller in substantially as good condition as when received by the buyer; and
(C) The buyer's emergency request is in a dated writing personally signed by the buyer and which expressly states that the buyer understands that the buyer is waiving the buyer's right to cancel the sale under this part;
(6) Except as provided in subdivision (5), any waiver or modification of a buyer's right to cancel is void and of no effect. In the event the seller obtains from the buyer a waiver or modification of the buyer's right to cancel, the buyer's right to cancel shall commence on the first business day following the buyer's learning that the waiver or modification is void and of no effect.
Acts 1974, ch. 712, § 3; T.C.A., § 47-16-103 .
Tenn. Code Ann. § 47-18-135 — TN Code / Title 47 / Chapter 18 / Section 47-18-135
Section definitions - Financing company display of telephone number - Violations
Status: in_force

(a) As used in this section: (1) "Financing company": (A) Means an entity that provides loans, loan extensions, or lines of credit to finance the purchase of a good or service; and (B) Does not include a financial institution subject to 12 C.F.R. Part 1005 ; and (2) "Statement" means a document that shows all of the activity on the account associated with the statement over a specific period of time. (b) A financing company doing business in this state shall provide on its mailed or emailed statements to a consumer a conspicuously displayed telephone number that a consumer may contact for service. (c) A violation of this section constitutes a violation of the Tennessee Consumer Protection Act of 1977, compiled in this part. A violation of this section constitutes an unfair or deceptive act or practice affecting trade or commerce and is subject to the penalties and remedies as provided in this part. Added by 2023 Tenn. Acts, ch. 215, s 1, eff. 7/1/2023.
(a) As used in this section: (1) "Financing company": (A) Means an entity that provides loans, loan extensions, or lines of credit to finance the purchase of a good or service; and (B) Does not include a financial institution subject to 12 C.F.R. Part 1005 ; and (2) "Statement" means a document that shows all of the activity on the account associated with the statement over a specific period of time.
(1) "Financing company": (A) Means an entity that provides loans, loan extensions, or lines of credit to finance the purchase of a good or service; and (B) Does not include a financial institution subject to 12 C.F.R. Part 1005 ; and
(A) Means an entity that provides loans, loan extensions, or lines of credit to finance the purchase of a good or service; and
(B) Does not include a financial institution subject to 12 C.F.R. Part 1005 ; and
(2) "Statement" means a document that shows all of the activity on the account associated with the statement over a specific period of time.
(b) A financing company doing business in this state shall provide on its mailed or emailed statements to a consumer a conspicuously displayed telephone number that a consumer may contact for service.
(c) A violation of this section constitutes a violation of the Tennessee Consumer Protection Act of 1977, compiled in this part. A violation of this section constitutes an unfair or deceptive act or practice affecting trade or commerce and is subject to the penalties and remedies as provided in this part.
Added by 2023 Tenn. Acts, ch. 215, s 1, eff. 7/1/2023.
Tenn. Code Ann. § 47-5-109 — TN Code / Title 47 / Chapter 5 / Section 47-5-109
Fraud and forgery
Status: in_force

(a) If a presentation is made that appears on its face strictly to comply with the terms and conditions of the letter of credit, but a required document is forged or materially fraudulent, or honor of the presentation would facilitate a material fraud by the beneficiary on the issuer or applicant: (1) the issuer shall honor the presentation, if honor is demanded by: (i) a nominated person who has given value in good faith and without notice of forgery or material fraud; (ii) a confirmer who has honored its confirmation in good faith; (iii) a holder in due course of a draft drawn under the letter of credit which was taken after acceptance by the issuer or nominated person; or (iv) an assignee of the issuer's or nominated person's deferred obligation that was taken for value and without notice of forgery or material fraud after the obligation was incurred by the issuer or nominated person; and (2) the issuer, acting in good faith, may honor or dishonor the presentation in any other case. (b) If an applicant claims that a required document is forged or materially fraudulent or that honor of the presentation would facilitate a material fraud by the beneficiary on the issuer or applicant, a court of competent jurisdiction may temporarily or permanently enjoin the issuer from honoring a presentation or grant similar relief against the issuer or other persons only if the court finds that: (1) the relief is not prohibited under the law applicable to an accepted draft or deferred obligation incurred by the issuer; (2) a beneficiary, issuer, or nominated person who may be adversely affected is adequately protected against loss that it may suffer because the relief is granted; (3) all of the conditions to entitle a person to the relief under the law of this state have been met; and (4) on the basis of the information submitted to the court, the applicant is more likely than not to succeed under its claim of forgery or material fraud and the person demanding honor does not qualify for protection under subsection (a)(1). Acts 1998, ch. 675, § 1.
(a) If a presentation is made that appears on its face strictly to comply with the terms and conditions of the letter of credit, but a required document is forged or materially fraudulent, or honor of the presentation would facilitate a material fraud by the beneficiary on the issuer or applicant: (1) the issuer shall honor the presentation, if honor is demanded by: (i) a nominated person who has given value in good faith and without notice of forgery or material fraud; (ii) a confirmer who has honored its confirmation in good faith; (iii) a holder in due course of a draft drawn under the letter of credit which was taken after acceptance by the issuer or nominated person; or (iv) an assignee of the issuer's or nominated person's deferred obligation that was taken for value and without notice of forgery or material fraud after the obligation was incurred by the issuer or nominated person; and (2) the issuer, acting in good faith, may honor or dishonor the presentation in any other case.
(1) the issuer shall honor the presentation, if honor is demanded by: (i) a nominated person who has given value in good faith and without notice of forgery or material fraud; (ii) a confirmer who has honored its confirmation in good faith; (iii) a holder in due course of a draft drawn under the letter of credit which was taken after acceptance by the issuer or nominated person; or (iv) an assignee of the issuer's or nominated person's deferred obligation that was taken for value and without notice of forgery or material fraud after the obligation was incurred by the issuer or nominated person; and
(i) a nominated person who has given value in good faith and without notice of forgery or material fraud;
(ii) a confirmer who has honored its confirmation in good faith;
(iii) a holder in due course of a draft drawn under the letter of credit which was taken after acceptance by the issuer or nominated person; or
(iv) an assignee of the issuer's or nominated person's deferred obligation that was taken for value and without notice of forgery or material fraud after the obligation was incurred by the issuer or nominated person; and
(2) the issuer, acting in good faith, may honor or dishonor the presentation in any other case.
(b) If an applicant claims that a required document is forged or materially fraudulent or that honor of the presentation would facilitate a material fraud by the beneficiary on the issuer or applicant, a court of competent jurisdiction may temporarily or permanently enjoin the issuer from honoring a presentation or grant similar relief against the issuer or other persons only if the court finds that: (1) the relief is not prohibited under the law applicable to an accepted draft or deferred obligation incurred by the issuer; (2) a beneficiary, issuer, or nominated person who may be adversely affected is adequately protected against loss that it may suffer because the relief is granted; (3) all of the conditions to entitle a person to the relief under the law of this state have been met; and (4) on the basis of the information submitted to the court, the applicant is more likely than not to succeed under its claim of forgery or material fraud and the person demanding honor does not qualify for protection under subsection (a)(1).
(1) the relief is not prohibited under the law applicable to an accepted draft or deferred obligation incurred by the issuer;
(2) a beneficiary, issuer, or nominated person who may be adversely affected is adequately protected against loss that it may suffer because the relief is granted;
(3) all of the conditions to entitle a person to the relief under the law of this state have been met; and
(4) on the basis of the information submitted to the court, the applicant is more likely than not to succeed under its claim of forgery or material fraud and the person demanding honor does not qualify for protection under subsection (a)(1).
Acts 1998, ch. 675, § 1.
Tenn. Code Ann. § 47-2-316 — TN Code / Title 47 / Chapter 2 / Section 47-2-316
Exclusion or modification of warranties
Status: in_force

(1) Words or conduct relevant to the creation of an express warranty and words or conduct tending to negate or limit warranty shall be construed wherever reasonable as consistent with each other; but subject to the provisions of this chapter on parol or extrinsic evidence (§ 47-2-202 ) negation or limitation is inoperative to the extent that such construction is unreasonable. (2) Subject to subsection (3), to exclude or modify the implied warranty of merchantability or any part of it the language must mention merchantability and in case of a writing must be conspicuous, and to exclude or modify any implied warranty of fitness the exclusion must be by a writing and conspicuous. Language to exclude all implied warranties of fitness is sufficient if it states, for example, that "There are no warranties which extend beyond the description on the face hereof." (3) Notwithstanding subsection (2): (a) unless the circumstances indicate otherwise, all implied warranties are excluded by expressions like "as is," "with all faults" or other language which in common understanding calls the buyer's attention to the exclusion of warranties and makes plain that there is no implied warranty; and (b) when the buyer before entering into the contract has examined the goods or the sample or model as fully as he desired or has refused to examine the goods there is no implied warranty with regard to defects which an examination ought in the circumstances to have revealed to him; and (c) an implied warranty can also be excluded or modified by course of dealing or course of performance or usage of trade. (4) Remedies for breach of warranty can be limited in accordance with the provisions of this chapter on liquidation or limitation of damages and on contractual modification of remedy (§§ 47-2-718 and 47-2-719 ). (5) The implied warranties of merchantability and fitness shall not be applicable to a contract for the sale, procurement, processing, distribution or use of human tissues (such as corneas, bones, or organs), whole blood, plasma, blood products, or blood derivatives. Such human tissues, whole blood, plasma, blood products, or blood derivatives shall not be considered commodities subject to sale or barter, and the transplanting, injection, transfusion or other transfer of such substances into the human body shall be considered a medical service. Acts 1963, ch. 81, § 1 (2-316); 1967, ch. 206, § 1.
(1) Words or conduct relevant to the creation of an express warranty and words or conduct tending to negate or limit warranty shall be construed wherever reasonable as consistent with each other; but subject to the provisions of this chapter on parol or extrinsic evidence (§ 47-2-202 ) negation or limitation is inoperative to the extent that such construction is unreasonable.
(2) Subject to subsection (3), to exclude or modify the implied warranty of merchantability or any part of it the language must mention merchantability and in case of a writing must be conspicuous, and to exclude or modify any implied warranty of fitness the exclusion must be by a writing and conspicuous. Language to exclude all implied warranties of fitness is sufficient if it states, for example, that "There are no warranties which extend beyond the description on the face hereof."
(3) Notwithstanding subsection (2): (a) unless the circumstances indicate otherwise, all implied warranties are excluded by expressions like "as is," "with all faults" or other language which in common understanding calls the buyer's attention to the exclusion of warranties and makes plain that there is no implied warranty; and (b) when the buyer before entering into the contract has examined the goods or the sample or model as fully as he desired or has refused to examine the goods there is no implied warranty with regard to defects which an examination ought in the circumstances to have revealed to him; and (c) an implied warranty can also be excluded or modified by course of dealing or course of performance or usage of trade.
(a) unless the circumstances indicate otherwise, all implied warranties are excluded by expressions like "as is," "with all faults" or other language which in common understanding calls the buyer's attention to the exclusion of warranties and makes plain that there is no implied warranty; and
(b) when the buyer before entering into the contract has examined the goods or the sample or model as fully as he desired or has refused to examine the goods there is no implied warranty with regard to defects which an examination ought in the circumstances to have revealed to him; and
(c) an implied warranty can also be excluded or modified by course of dealing or course of performance or usage of trade.
(4) Remedies for breach of warranty can be limited in accordance with the provisions of this chapter on liquidation or limitation of damages and on contractual modification of remedy (§§ 47-2-718 and 47-2-719 ).
(5) The implied warranties of merchantability and fitness shall not be applicable to a contract for the sale, procurement, processing, distribution or use of human tissues (such as corneas, bones, or organs), whole blood, plasma, blood products, or blood derivatives. Such human tissues, whole blood, plasma, blood products, or blood derivatives shall not be considered commodities subject to sale or barter, and the transplanting, injection, transfusion or other transfer of such substances into the human body shall be considered a medical service.
Acts 1963, ch. 81, § 1 (2-316); 1967, ch. 206, § 1.
Tenn. Code Ann. § 47-18-5401 — TN Code / Title 47 / Chapter 18 / Section 47-18-5401
Part definitions
Status: in_force

As used in this part, unless the context otherwise requires: (1) "Foreclosure-related rescue services" means any service related to or promising assistance in connection with: (A) Stopping, avoiding or delaying foreclosure proceedings concerning residential real property; or (B) Curing or otherwise addressing a default or failure to timely pay with respect to a residential mortgage loan obligation; (2) "Foreclosure-rescue consultant" means a person who directly or indirectly makes a solicitation, representation or offer to a homeowner to provide or perform, in return for payment of money or other valuable consideration, foreclosure-related rescue services; provided, that a foreclosure-rescue consultant shall not include: (A) A person acting under the express authority or written approval of the United States department of housing and urban development or other department or agency of the United States or this state to provide foreclosure-related rescue services; provided, that the person does not solicit, charge, receive or attempt to collect or secure payment, directly or indirectly, for foreclosure-related rescue services except as expressly authorized by federal law, regulation or rule; (B) A charitable, not-for-profit agency or organization, as determined by the United States internal revenue service under § 501(c)(3) of the Internal Revenue Code, codified in 26 U.S.C. § 501(c)(3) , that offers counseling or advice to an owner of residential real property in foreclosure or loan default if the agency or organization does not contract for foreclosure-related rescue services with a for-profit lender or person facilitating or engaging in foreclosure-rescue transactions, and does not solicit, charge, receive or attempt to collect or secure payment, directly or indirectly, for foreclosure-related services; (C) A person who holds or is owed an obligation secured by a lien on any residential real property in foreclosure if the person performs foreclosure-related rescue services in connection with this obligation or lien and the obligation or lien was not the result of or part of a proposed foreclosure reconveyance or foreclosure-rescue transaction; (D) A state or national bank or its subsidiary, a state or federal savings institution or its subsidiary, a state or federal credit union, an industrial loan and thrift company or a licensed mortgage loan broker or originator; or (E) An attorney licensed or otherwise authorized to practice law in this state who is providing legal services to a client; (3) "Foreclosure-rescue transaction" means a transaction that is designed or intended by the parties to stop, avoid or delay foreclosure proceedings against a homeowner's residential real property; (4) "Homeowner" means any record title owner of residential real property that is the subject of foreclosure proceedings; and (5) "Residential real property" means improved real property used or occupied or intended to be used or occupied for residential purposes by the owner. Acts 2009 , ch. 198, § 1.
As used in this part, unless the context otherwise requires:
(1) "Foreclosure-related rescue services" means any service related to or promising assistance in connection with: (A) Stopping, avoiding or delaying foreclosure proceedings concerning residential real property; or (B) Curing or otherwise addressing a default or failure to timely pay with respect to a residential mortgage loan obligation;
(A) Stopping, avoiding or delaying foreclosure proceedings concerning residential real property; or
(B) Curing or otherwise addressing a default or failure to timely pay with respect to a residential mortgage loan obligation;
(2) "Foreclosure-rescue consultant" means a person who directly or indirectly makes a solicitation, representation or offer to a homeowner to provide or perform, in return for payment of money or other valuable consideration, foreclosure-related rescue services; provided, that a foreclosure-rescue consultant shall not include: (A) A person acting under the express authority or written approval of the United States department of housing and urban development or other department or agency of the United States or this state to provide foreclosure-related rescue services; provided, that the person does not solicit, charge, receive or attempt to collect or secure payment, directly or indirectly, for foreclosure-related rescue services except as expressly authorized by federal law, regulation or rule; (B) A charitable, not-for-profit agency or organization, as determined by the United States internal revenue service under § 501(c)(3) of the Internal Revenue Code, codified in 26 U.S.C. § 501(c)(3) , that offers counseling or advice to an owner of residential real property in foreclosure or loan default if the agency or organization does not contract for foreclosure-related rescue services with a for-profit lender or person facilitating or engaging in foreclosure-rescue transactions, and does not solicit, charge, receive or attempt to collect or secure payment, directly or indirectly, for foreclosure-related services; (C) A person who holds or is owed an obligation secured by a lien on any residential real property in foreclosure if the person performs foreclosure-related rescue services in connection with this obligation or lien and the obligation or lien was not the result of or part of a proposed foreclosure reconveyance or foreclosure-rescue transaction; (D) A state or national bank or its subsidiary, a state or federal savings institution or its subsidiary, a state or federal credit union, an industrial loan and thrift company or a licensed mortgage loan broker or originator; or (E) An attorney licensed or otherwise authorized to practice law in this state who is providing legal services to a client;
(A) A person acting under the express authority or written approval of the United States department of housing and urban development or other department or agency of the United States or this state to provide foreclosure-related rescue services; provided, that the person does not solicit, charge, receive or attempt to collect or secure payment, directly or indirectly, for foreclosure-related rescue services except as expressly authorized by federal law, regulation or rule;
(B) A charitable, not-for-profit agency or organization, as determined by the United States internal revenue service under § 501(c)(3) of the Internal Revenue Code, codified in 26 U.S.C. § 501(c)(3) , that offers counseling or advice to an owner of residential real property in foreclosure or loan default if the agency or organization does not contract for foreclosure-related rescue services with a for-profit lender or person facilitating or engaging in foreclosure-rescue transactions, and does not solicit, charge, receive or attempt to collect or secure payment, directly or indirectly, for foreclosure-related services;
(C) A person who holds or is owed an obligation secured by a lien on any residential real property in foreclosure if the person performs foreclosure-related rescue services in connection with this obligation or lien and the obligation or lien was not the result of or part of a proposed foreclosure reconveyance or foreclosure-rescue transaction;
(D) A state or national bank or its subsidiary, a state or federal savings institution or its subsidiary, a state or federal credit union, an industrial loan and thrift company or a licensed mortgage loan broker or originator; or
(E) An attorney licensed or otherwise authorized to practice law in this state who is providing legal services to a client;
(3) "Foreclosure-rescue transaction" means a transaction that is designed or intended by the parties to stop, avoid or delay foreclosure proceedings against a homeowner's residential real property;
(4) "Homeowner" means any record title owner of residential real property that is the subject of foreclosure proceedings; and
(5) "Residential real property" means improved real property used or occupied or intended to be used or occupied for residential purposes by the owner.
Acts 2009 , ch. 198, § 1.
Tenn. Code Ann. § 47-15-104 — TN Code / Title 47 / Chapter 15 / Section 47-15-104
Contract provisions
Status: in_force

(a) Home loan contracts to which this chapter applies may provide for the payment of a fixed rate of interest, a variable rate of interest, or any combination of fixed and variable rates in any sequence, subject to subsection (b). (b) (1) A contract may provide for a fixed rate of interest: (A) Permissible at the time the contract to make the loan is executed; (B) Permissible at the time the loan is made; (C) Permissible at the time the interest rate on the loan is converted from a variable to a fixed rate, or from one fixed rate to another fixed rate, whether such conversion is by terms of the contract or by renewal, modification, extension or otherwise; (D) Permissible at the time of any renewal or extension of the loan or any note evidencing the loan; or (E) Permissible by virtue of any combination of any of the foregoing. (2) A contract may provide for a rate of interest that may vary from time to time at such regular or irregular intervals as may be agreed by the parties; provided, that such variable rate shall not exceed the greater of: (A) That authorized by statute at the agreed time of each variance; or (B) That authorized at the time of execution of the contract or note evidencing the indebtedness upon which such variable rate is or is to be charged. (3) The parties may agree to a minimum fixed rate of interest to be applicable to a rate which is or may become otherwise variable; provided, that such agreed minimum fixed rate of interest does not exceed the rate permitted at the time the contract to make the loan is executed, or at the time the note is executed, or at the time of any renewal or extension thereof, whichever is greater. Acts 1979, ch. 208, § 5; T.C.A., § 47-14-204; Acts 1992, ch. 629, § 2.
(a) Home loan contracts to which this chapter applies may provide for the payment of a fixed rate of interest, a variable rate of interest, or any combination of fixed and variable rates in any sequence, subject to subsection (b).
(b) (1) A contract may provide for a fixed rate of interest: (A) Permissible at the time the contract to make the loan is executed; (B) Permissible at the time the loan is made; (C) Permissible at the time the interest rate on the loan is converted from a variable to a fixed rate, or from one fixed rate to another fixed rate, whether such conversion is by terms of the contract or by renewal, modification, extension or otherwise; (D) Permissible at the time of any renewal or extension of the loan or any note evidencing the loan; or (E) Permissible by virtue of any combination of any of the foregoing. (2) A contract may provide for a rate of interest that may vary from time to time at such regular or irregular intervals as may be agreed by the parties; provided, that such variable rate shall not exceed the greater of: (A) That authorized by statute at the agreed time of each variance; or (B) That authorized at the time of execution of the contract or note evidencing the indebtedness upon which such variable rate is or is to be charged. (3) The parties may agree to a minimum fixed rate of interest to be applicable to a rate which is or may become otherwise variable; provided, that such agreed minimum fixed rate of interest does not exceed the rate permitted at the time the contract to make the loan is executed, or at the time the note is executed, or at the time of any renewal or extension thereof, whichever is greater.
(1) A contract may provide for a fixed rate of interest: (A) Permissible at the time the contract to make the loan is executed; (B) Permissible at the time the loan is made; (C) Permissible at the time the interest rate on the loan is converted from a variable to a fixed rate, or from one fixed rate to another fixed rate, whether such conversion is by terms of the contract or by renewal, modification, extension or otherwise; (D) Permissible at the time of any renewal or extension of the loan or any note evidencing the loan; or (E) Permissible by virtue of any combination of any of the foregoing.
(A) Permissible at the time the contract to make the loan is executed;
(B) Permissible at the time the loan is made;
(C) Permissible at the time the interest rate on the loan is converted from a variable to a fixed rate, or from one fixed rate to another fixed rate, whether such conversion is by terms of the contract or by renewal, modification, extension or otherwise;
(D) Permissible at the time of any renewal or extension of the loan or any note evidencing the loan; or
(E) Permissible by virtue of any combination of any of the foregoing.
(2) A contract may provide for a rate of interest that may vary from time to time at such regular or irregular intervals as may be agreed by the parties; provided, that such variable rate shall not exceed the greater of: (A) That authorized by statute at the agreed time of each variance; or (B) That authorized at the time of execution of the contract or note evidencing the indebtedness upon which such variable rate is or is to be charged.
(A) That authorized by statute at the agreed time of each variance; or
(B) That authorized at the time of execution of the contract or note evidencing the indebtedness upon which such variable rate is or is to be charged.
(3) The parties may agree to a minimum fixed rate of interest to be applicable to a rate which is or may become otherwise variable; provided, that such agreed minimum fixed rate of interest does not exceed the rate permitted at the time the contract to make the loan is executed, or at the time the note is executed, or at the time of any renewal or extension thereof, whichever is greater.
Acts 1979, ch. 208, § 5; T.C.A., § 47-14-204; Acts 1992, ch. 629, § 2.
Tenn. Code Ann. § 47-25-2002 — TN Code / Title 47 / Chapter 25 / Section 47-25-2002
Part definitions
Status: in_force

As used in this part, unless the context otherwise requires: (1) "Biodiesel" (biodiesel fuel blending stock) means a fuel comprised of mono-alkyl esters of long chain fatty acids meeting the requirements of ASTM D 6751; (2) "Blending Stock" means any liquid compound used for blending with other liquid compounds, including catalytically reformed products and additives, to produce gasoline and gasoline-oxygenate blends that are consistent with the requirements of chapter 18, part 13 of this title. Blending stock includes such products as sub-octane gasoline, conventional blending stock for oxygenate blending (CBOB) and reformulated blending stock for oxygenate blending (RBOB); (3) "Ethanol," also known as denatured fuel ethanol, means nominally anhydrous ethyl alcohol meeting ASTM D 4806 standards. Ethanol is intended to be blended with gasoline for use as a fuel in a spark-ignition internal combustion engine. The denatured fuel ethanol is first made unfit for drinking by the addition of the alcohol and tobacco tax and trade bureau (TTB) approved substances before blending with gasoline; (4) "Permissive supplier" means any person that is not subject to the general taxing jurisdiction of this state, but that: (A) Is a position holder in a federal qualified terminal located outside this state; (B) Is registered for transactions in taxable motor fuels under § 4101 of the Internal Revenue Code, codified in 26 U.S.C. § 4101 , in the bulk transfer/terminal distribution system; and (C) Acquires products in such out-of-state terminals from position holders in transactions that otherwise qualify as two-party exchanges; (5) "Person" means a natural person, partnership, firm, association, corporation, limited liability company, court appointed representative, state, political subdivision or any other entity, group or syndicate; (6) "Position holder" means the person that holds the inventory position in petroleum products in a terminal, as reflected in the records of the terminal operator. A person holds the inventory position in petroleum products when that person has a contract with the operator for the use of storage facilities and terminaling services for petroleum products at the terminal. "Position holder" includes a terminal operator that owns petroleum products in the terminal; (7) "Refiner" means a person that owns, operates or otherwise controls a refinery within the United States; (8) "Refinery" means a facility used to produce motor fuel from crude oil, unfinished oils, natural gas liquids or other hydrocarbons, and from which motor fuel may be removed by pipeline, by marine vessel or at a rack; (9) "Retail station" means any service station, garage, truck stop or other outlet dispensing motor fuel from a container equipped with a computer-type pump that measures fuel passing through it; (10) "Retailer" means a person that engages in the business of selling or distributing petroleum products to the end user within this state through a retail station; (11) "Supplier" means a person that meets all the following conditions: (A) Is subject to the general taxing jurisdiction of this state; (B) Is registered under § 4101 of the Internal Revenue Code for transactions in taxable motor fuels in the bulk transfer/terminal system; and (C) Is one of the following: (i) The position holder in a terminal or refinery in this state, or is one that receives fuel from a position holder within a terminal or refinery in this state; (ii) A person that imports taxable petroleum products into this state from a foreign country; (iii) A person that acquires taxable petroleum products from a terminal or refinery outside this state for import into this state on such person's account; or (iv) A person that is the receiving supplier on a two-party exchange; (12) "Terminal" means a storage and distribution facility for taxable motor fuel, supplied by pipeline or marine vessel, that is registered as a qualified terminal by the internal revenue service; (13) "Two-party exchange" means a transaction in which a petroleum product is transferred from one licensed supplier or licensed permissive supplier to another licensed supplier or licensed permissive supplier pursuant to an exchange agreement: (A) Which transaction includes a transfer from the person that holds the inventory position for taxable motor fuel in the terminal as reflected on the records of the terminal operator; and (B) The exchange transaction is completed prior to removal of the product from the terminal by the receiving exchange partner; and (14) "Wholesaler" means an entity that acquires petroleum products from a supplier, importer or from another wholesaler for subsequent sale and distribution at wholesale by tank cars, transport trucks or vessels, and subsequently resells to retailers, other wholesalers or to consumers from its own or its wholly owned affiliated retail locations. Acts 2009 , ch. 523, § 1.
As used in this part, unless the context otherwise requires:
(1) "Biodiesel" (biodiesel fuel blending stock) means a fuel comprised of mono-alkyl esters of long chain fatty acids meeting the requirements of ASTM D 6751;
(2) "Blending Stock" means any liquid compound used for blending with other liquid compounds, including catalytically reformed products and additives, to produce gasoline and gasoline-oxygenate blends that are consistent with the requirements of chapter 18, part 13 of this title. Blending stock includes such products as sub-octane gasoline, conventional blending stock for oxygenate blending (CBOB) and reformulated blending stock for oxygenate blending (RBOB);
(3) "Ethanol," also known as denatured fuel ethanol, means nominally anhydrous ethyl alcohol meeting ASTM D 4806 standards. Ethanol is intended to be blended with gasoline for use as a fuel in a spark-ignition internal combustion engine. The denatured fuel ethanol is first made unfit for drinking by the addition of the alcohol and tobacco tax and trade bureau (TTB) approved substances before blending with gasoline;
(4) "Permissive supplier" means any person that is not subject to the general taxing jurisdiction of this state, but that: (A) Is a position holder in a federal qualified terminal located outside this state; (B) Is registered for transactions in taxable motor fuels under § 4101 of the Internal Revenue Code, codified in 26 U.S.C. § 4101 , in the bulk transfer/terminal distribution system; and (C) Acquires products in such out-of-state terminals from position holders in transactions that otherwise qualify as two-party exchanges;
(A) Is a position holder in a federal qualified terminal located outside this state;
(B) Is registered for transactions in taxable motor fuels under § 4101 of the Internal Revenue Code, codified in 26 U.S.C. § 4101 , in the bulk transfer/terminal distribution system; and
(C) Acquires products in such out-of-state terminals from position holders in transactions that otherwise qualify as two-party exchanges;
(5) "Person" means a natural person, partnership, firm, association, corporation, limited liability company, court appointed representative, state, political subdivision or any other entity, group or syndicate;
(6) "Position holder" means the person that holds the inventory position in petroleum products in a terminal, as reflected in the records of the terminal operator. A person holds the inventory position in petroleum products when that person has a contract with the operator for the use of storage facilities and terminaling services for petroleum products at the terminal. "Position holder" includes a terminal operator that owns petroleum products in the terminal;
(7) "Refiner" means a person that owns, operates or otherwise controls a refinery within the United States;
(8) "Refinery" means a facility used to produce motor fuel from crude oil, unfinished oils, natural gas liquids or other hydrocarbons, and from which motor fuel may be removed by pipeline, by marine vessel or at a rack;
(9) "Retail station" means any service station, garage, truck stop or other outlet dispensing motor fuel from a container equipped with a computer-type pump that measures fuel passing through it;
(10) "Retailer" means a person that engages in the business of selling or distributing petroleum products to the end user within this state through a retail station;
(11) "Supplier" means a person that meets all the following conditions: (A) Is subject to the general taxing jurisdiction of this state; (B) Is registered under § 4101 of the Internal Revenue Code for transactions in taxable motor fuels in the bulk transfer/terminal system; and (C) Is one of the following: (i) The position holder in a terminal or refinery in this state, or is one that receives fuel from a position holder within a terminal or refinery in this state; (ii) A person that imports taxable petroleum products into this state from a foreign country; (iii) A person that acquires taxable petroleum products from a terminal or refinery outside this state for import into this state on such person's account; or (iv) A person that is the receiving supplier on a two-party exchange;
(A) Is subject to the general taxing jurisdiction of this state;
(B) Is registered under § 4101 of the Internal Revenue Code for transactions in taxable motor fuels in the bulk transfer/terminal system; and
(C) Is one of the following: (i) The position holder in a terminal or refinery in this state, or is one that receives fuel from a position holder within a terminal or refinery in this state; (ii) A person that imports taxable petroleum products into this state from a foreign country; (iii) A person that acquires taxable petroleum products from a terminal or refinery outside this state for import into this state on such person's account; or (iv) A person that is the receiving supplier on a two-party exchange;
(i) The position holder in a terminal or refinery in this state, or is one that receives fuel from a position holder within a terminal or refinery in this state;
(ii) A person that imports taxable petroleum products into this state from a foreign country;
(iii) A person that acquires taxable petroleum products from a terminal or refinery outside this state for import into this state on such person's account; or
(iv) A person that is the receiving supplier on a two-party exchange;
(12) "Terminal" means a storage and distribution facility for taxable motor fuel, supplied by pipeline or marine vessel, that is registered as a qualified terminal by the internal revenue service;
(13) "Two-party exchange" means a transaction in which a petroleum product is transferred from one licensed supplier or licensed permissive supplier to another licensed supplier or licensed permissive supplier pursuant to an exchange agreement: (A) Which transaction includes a transfer from the person that holds the inventory position for taxable motor fuel in the terminal as reflected on the records of the terminal operator; and (B) The exchange transaction is completed prior to removal of the product from the terminal by the receiving exchange partner; and
(A) Which transaction includes a transfer from the person that holds the inventory position for taxable motor fuel in the terminal as reflected on the records of the terminal operator; and
(B) The exchange transaction is completed prior to removal of the product from the terminal by the receiving exchange partner; and
(14) "Wholesaler" means an entity that acquires petroleum products from a supplier, importer or from another wholesaler for subsequent sale and distribution at wholesale by tank cars, transport trucks or vessels, and subsequently resells to retailers, other wholesalers or to consumers from its own or its wholly owned affiliated retail locations.
Acts 2009 , ch. 523, § 1.
Tenn. Code Ann. § 47-9-617 — TN Code / Title 47 / Chapter 9 / Section 47-9-617
Rights of transferee of collateral
Status: in_force

(a) Effects of disposition. A secured party's disposition of collateral after default: (1) Transfers to a transferee for value all of the debtor's rights in the collateral; (2) Discharges the security interest under which the disposition is made; and (3) Discharges any subordinate security interest or other subordinate lien. (b) Rights of good-faith transferee. A transferee that acts in good faith takes free of the rights and interests described in subsection (a), even if the secured party fails to comply with this chapter or the requirements of any judicial proceeding. (c) Rights of other transferee. If a transferee does not take free of the rights and interests described in subsection (a), the transferee takes the collateral subject to: (1) The debtor's rights in the collateral; (2) The security interest or agricultural lien under which the disposition is made; and (3) Any other security interest or other lien. Acts 2000, ch. 846, § 1; 2002, ch. 521, § 1.
(a) Effects of disposition. A secured party's disposition of collateral after default: (1) Transfers to a transferee for value all of the debtor's rights in the collateral; (2) Discharges the security interest under which the disposition is made; and (3) Discharges any subordinate security interest or other subordinate lien.
(1) Transfers to a transferee for value all of the debtor's rights in the collateral;
(2) Discharges the security interest under which the disposition is made; and
(3) Discharges any subordinate security interest or other subordinate lien.
(b) Rights of good-faith transferee. A transferee that acts in good faith takes free of the rights and interests described in subsection (a), even if the secured party fails to comply with this chapter or the requirements of any judicial proceeding.
(c) Rights of other transferee. If a transferee does not take free of the rights and interests described in subsection (a), the transferee takes the collateral subject to: (1) The debtor's rights in the collateral; (2) The security interest or agricultural lien under which the disposition is made; and (3) Any other security interest or other lien.
(1) The debtor's rights in the collateral;
(2) The security interest or agricultural lien under which the disposition is made; and
(3) Any other security interest or other lien.
Acts 2000, ch. 846, § 1; 2002, ch. 521, § 1.