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Missouri Revised Statutes Title XXVI. Trade and Commerce § 407.738. Actions, unlawful subleasing, who may bring--definitions

Current as of January 01, 2023 | Updated by FindLaw Staff

1. Any one or more of the following persons who suffers any damage proximately resulting from one or more acts of unlawful motor vehicle subleasing, as described in section 407.742 may bring an action in the circuit court in the county in which the defendant resides, has his principal place of business, or where an act of unlawful motor vehicle subleasing occurred against the person who has engaged in those acts:

(1) A seller or other secured party under a conditional sale contract or a security agreement;

(2) A lender under a direct loan agreement;

(3) A lessor under a lease contract;

(4) A buyer under a conditional sale contract;

(5) A purchaser under a direct loan agreement, an agreement which provides for a security interest, or an agreement which is equivalent to these types of agreements;

(6) A lessee under a lease contract;

(7) An actual or purported transferee or assignee of any right or interest of a buyer, a purchaser, or a lessee.

2. The circuit court in an action under subsection 1 of this section may award, in its discretion, actual damages; punitive damages; reasonable attorney's fees and costs to the prevailing party; equitable relief, including, but not limited to, an injunction and restitution of money and property; and any other equitable relief which the court deems proper.

3. As used in sections 407.738 to 407.745, the following terms have the following meanings:

(1) “Buyer” has the meaning set forth in subdivision (9) of section 365.010;

(2) “Conditional sale contract” means:

(a) Any contract for the sale of a motor vehicle between a buyer and a seller, with or without accessories, under which possession is delivered to the buyer but the title vests in the buyer thereafter only upon the payment of all or part of the price, or upon the performance of any other condition; or

(b) Any contract for the bailment or leasing of a motor vehicle between a buyer and a seller, with or without accessories, by which the bailee or lessee agrees to pay as compensation for use a sum substantially equivalent to or in excess of the aggregate value of the vehicle and its accessories, if any, at the time the contract is executed, and by which it is agreed that the bailee or lessee will become, or for no other consideration or for a nominal consideration has the option of becoming, the owner of the vehicle upon full compliance with the terms of the contract; or

(c) Any contract for the sale of a motor vehicle between a buyer and a seller, with or without accessories, under which possession is delivered to the buyer, and a lien on the property is to vest in the seller as security for the payment of part or all of the price, or for the performance of any other condition;

(d) Conditional sale contract includes any contract for the sale or bailment of a motor vehicle between a buyer and a seller primarily for business or commercial purposes;

(3) “Direct loan agreement” means an agreement between a lender and a purchaser whereby the lender has advanced funds pursuant to a loan secured by the motor vehicle which the purchaser has purchased;

(4) “Lease contract” means a lease contract between a lessor or bailor and a lessee or bailee including a lease for business or commercial purposes;

(5) “Motor vehicle” means any vehicle required to be registered pursuant to chapter 301;

(6) “Person” has the meaning set forth in subdivision (5) of section 407.010;

(7) “Purchaser”, has the meaning set forth in subdivision (30)  1 of section 400.1-201;

(8) “Security agreement” and “secured party” have the meanings set forth, respectively, in paragraphs (h) and (i) of subdivision (1) of section 400.9-105.“Security interest” has the meaning set forth in subdivision (35)  1 of section 400.1-201;

(9) “Seller” has the meaning set forth in subdivision (12) of section 365.020 and includes the present holder of the conditional sale contract.

4. The rights and remedies provided in sections 407.738 to 407.745 are in addition to any other rights and remedies provided by law.

1 Revisor’s note: In 2017 statutory reference to subdivision “(33)” changed to “(30)” and statutory reference to subdivision “(37)” changed to “(35)” in accordance with section 3.060.
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Cite this article: FindLaw.com - Missouri Revised Statutes Title XXVI. Trade and Commerce § 407.738. Actions, unlawful subleasing, who may bring--definitions - last updated January 01, 2023 | https://codes.findlaw.com/mo/title-xxvi-trade-and-commerce/mo-rev-st-407-738/

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