Tennessee § 12-3-908 - Action by aggrieved party to void executory contract for purchase of commodities.

§ 12-3-908. Action by aggrieved party to void executory contract for purchase of commodities.

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. The court may void the contract upon the showing by the aggrieved party that: The party is a seller of the commodity; The party is doing business in the state; The commodity to be sold has an energy efficiency rating and life cycle cost lower than the commodity contracted for by the purchaser; The purchaser is a political subdivision, and the standard for the commodity has been adopted for one (1) year by the procurement commission and has not been incorporated or adopted by the political subdivision; and 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 ; Acts 2010, ch. 1098, § 2; 2011, ch. 295, §§ 5, 19; T.C.A. § 12-3-608 ; Acts 2013, ch. 403, § 57. Compiler's Notes. For the disposition of sections in title 12, ch. 3, as amended by Acts 2013, ch. 403, effective July 1, 2013, please see the table of disposition in § 12-3-101 . Former title 12, ch. 3, part 9, §§ 12-3-901 — 12-3-908 (Impl. am. Acts 1959, ch. 9, § 3; impl. am. Acts 1961, ch. 97, § 3; Acts 1970, ch. 567, §§ 1-3; Acts 1971, ch. 425, §§ 1-3, 5; impl. am. Acts 1972, ch. 543, § 7; T.C.A., §§ 12-339 -12-344, 12-346, 12-3-501 , 12-3-502 , 12-3-504 , 12-3-505 , 12-3-506 , 12-3-508 ; Acts 1980, ch. 464, § 1; 1994, ch. 669, §§ 4-7; 2001, ch. 89, §§ 1-4; 2003, ch. 212, §§ 5, 6; 2007, ch. 168, § 1; 2010, ch. 993, § 2.), concerning purchasing insurance for the state and its agencies, was transferred to title 12, ch. 4, part 10, and former part 6, §§ 12-3-601 — 12-3-612 , was transferred to this part by Acts 2013, ch. 403, §§ 50-58, 82. Acts 2013, ch. 403, § 83 provided that the act, which transferred former title 12, ch. 3, part 9 to title 12, ch. 4, part 10, and transferred former title 12, ch. 3, part 6 to this part, shall apply to contracts entered into or renewed on and after July 1, 2013.