Define: Dealer Principal

How is Dealer Principal defined in a legal contract?

• Dealer Principal means a person approved by a vehicle producer, who is tasked with managing and running a franchised car dealership on a daily basis. Seen in 9 SEC filings
• Dealer Principal means , for a registered motor vehicle dealer, either a registered salesperson who has an ownership interest in such registered motor vehicle dealer, or a sole proprietor who is a registered motor vehicle dealer. Seen in 3 SEC filings
• Dealer Principal means the person mentioned in the [clause] of the Dealer Agreement as ""Principal Owner"", who possesses the necessary qualifications, expertise, honesty, experience, and ability that [entities] has relied on in entering [clause]. This term ""Dealer Principal"" is also interchangeably used with ""Principal Owner"". Seen in 3 SEC filings
• Dealer Principal means the person identified as such in the [clause]. Seen in 2 SEC filings.
• Dealer Principal and ""Principal Owner"" can be used interchangeably. Seen in 3 SEC filings

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of dealer principal' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Dealer Principal means an approved person, managing a franchised dealership.

Relevant Contract Types

• Franchise Agreement
• Dealership Agreement
• Management Contract

Relevant Circumstances

• Establishment of a new franchised dealership
• Restructuring or management change at a car dealership
• Scrutinising an individual's responsibilities in a franchised dealership sale or acquisition

Relevant Sectors

• Automotive
• Retail

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Genie Definition 2

• Dealer Principal means a salesperson or sole proprietor with ownership in a registered vehicle dealership.

Relevant Contract Types

• Sales Contract
• Ownership Agreement
• Sole Proprietorship Agreement

Relevant Circumstances

• The establishment of a sole proprietorship car dealership
• A salesperson acquiring ownership interest in a dealership
• Evaluating ownership structure during a dealership acquisition or sale

Relevant Sectors

• Automotive
• Sales

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