12-3-608 - Action by aggrieved party to void executory contract for purchase of commodities. - Tennessee Statutes

12-3-608. Action by aggrieved party to void executory contract for purchase of commodities.

(a)  Executory contracts for the purchase of commodities by a political subdivision included in this part shall be voidable by the circuit courts upon the bringing of an action by an aggrieved party.

(b)  The court may void the contract upon the showing by the aggrieved party that:

     (1)  The party is a seller of the commodity;

     (2)  The party is doing business in the state;

     (3)  The commodity to be sold has an energy efficiency rating and life cycle cost lower than the commodity contracted for by the purchaser;

     (4)  The purchaser is a political subdivision, and the standard for the commodity has been adopted for one (1) year by the board of standards and has not been incorporated or adopted by the political subdivision; and

     (5)  The aggrieved party is ready, willing and able, without any other legal constraints, to sell the commodity to the purchaser.

[Acts 1978, ch. 655, § 8; T.C.A., §§ 12-1108, 12-3-308.]