Opinion ID: 2094578
Heading Depth: 1
Heading Rank: 3

Heading: the price stipulated

Text: The provisions of the New Jersey Fair Trade Act purport to validate contracts in which the buyer agrees not to resell the seller's branded or trade marked property except at the price stipulated by the vendor. R.S. 56:4-5, supra. The nonsigner clause provides that sale, etc., of such property at less than the price stipulated in such a contract entered into under R.S. 56:4-5, supra, is unfair competition. R.S. 56:4-6, supra. The defendant contends that Lionel's fair trade contracts failed to comply with the statute because they contained minimum rather than absolute or stipulated prices. The facts are undisputed. This is a question of law and was determined in the plaintiff's favor by the trial court. In this respect the complaint and affidavits palpably show no genuine issue of a material fact. The contract language is unambiguous and clearly states a stipulated price. The defendant's contention in this respect is without merit and it devolves upon the court to declare the judgment which the law imposes.