Code of Virginia

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Code of Virginia
Title 59.1. Trade and Commerce
Chapter 27.1. Equipment Dealers Protection Act

§ 59.1-352.10. Failure to repurchase; civil remedy.

A. If a supplier fails or refuses to repurchase any inventory covered under the provisions of this chapter within the time periods established in § 59.1-352.5, the supplier shall be civilly liable for one hundred percent of the current net price of the inventory, any freight charges paid by the dealer, the dealer's reasonable attorney's fee and court costs, and interest on the current net price of the inventory computed at the legal rate of interest from the ninety-first day after termination of the agreement.

B. Notwithstanding any agreement to the contrary, and in addition to any other legal remedies available, any person who suffers monetary loss due to a violation of this chapter or because he refuses to accede to a proposal for an arrangement that, if consummated, is in violation of this chapter, may bring a civil action to enjoin further violations and to recover damages sustained by him together with the costs of the suit, including a reasonable attorney's fee.

C. The provisions of §§ 59.1-352.3 through 59.1-352.8 shall not be waivable in any contract or agreement, and any such attempted waiver shall be null and void.

D. A civil action commenced under the provisions of this chapter shall be brought within four years after the violation complained of is or reasonably should have been discovered, whichever occurs first.

2002, c. 898.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.