Tennessee § 47-25-1602 - Recordkeeping — Receipts.
Full text of Tennessee Tennessee Code Annotated § 47-25-1602 — Recordkeeping — Receipts., with citation guidance and answers to common questions.
§ 47-25-1602. Recordkeeping — Receipts.
Every new and unused property merchant shall maintain receipts for the acquisition of new and unused property which must contain all of the following information: The date of the transaction on which the property was acquired; The name and address of the person, corporation, or entity from whom the property was acquired; An identification and description of the property acquired; The price paid for such property; and The signatures of the person selling the property and the new and unused property merchant only if the new and unused property merchant acquires the property vis-á-vis the person selling the property if such person is not regularly engaged in the normal course of business of selling such property. If a new and unused property merchant makes a single purchase of five hundred dollars ($500) or more from an individual or corporation, the bill of sale from such purchase shall be sufficient to satisfy the recordkeeping requirements of this subsection (a). Acts 1998, ch. 884, § 2.
Frequently Asked Questions About Tennessee § 47-25-1602
What does Tennessee Code Annotated § 47-25-1602 cover?
Section 47-25-1602 ("Recordkeeping — Receipts.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 47-25-1602?
A common citation format is "Tennessee Code Annotated § 47-25-1602" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 47-25-1602 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.