407.588. Replacement of farm machinery or refund of purchase price, when--allowance deducted for consumer's use--refund made to whom. - Missouri Statutes

Replacement of farm machinery or refund of purchase price,when--allowance deducted for consumer's use--refund made to whom.

407.588. 1. If the manufacturer, or its agent, cannotconform the new farm machinery to any applicable express warrantyby repairing or correcting any default or condition whichsubstantially impairs the use or market value of the new farmmachinery to the consumer after a reasonable number of attempts,the manufacturer shall give the consumer the option of having themanufacturer either replace the new farm machinery with acomparable new farm machinery acceptable to the consumer, or taketitle of the machine from the consumer and refund to the consumerthe full purchase price, including all reasonably incurredcollateral charges, less a reasonable allowance for theconsumer's use of the machine. The subtraction of a reasonableallowance for use shall apply when either a replacement or refundof the new farm machinery occurs.

2. Refunds shall be made to the consumer and lienholder ofrecord, if any, as their interests may appear.

(L. 1987 H.B. 76 § 4 subsecs. 1, 2)