§ 26-26. Definitions.

Latest version.

The following words, terms and phrases, when used in this article, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning:

Closing out sale means and includes any sale in connection with which there is reasonable cause for the public to believe that, upon the disposition of stock or the termination of the sale, the business will cease and discontinue either permanently or at the existing location, and the term "closing out sale" shall include but not be limited to all sales advertised, represented or held forth under the designation of "going out of business," "selling out," "liquidation," "removal," "must vacate" or any other designation of like meaning.

Fire sale means or includes any sale publicized in such a manner as to reasonably cause the public to believe that the sale will offer goods damaged or altered by fire, smoke, water or other means.

(Code 1960, § 9A-1)

Cross reference

Definitions and rules of construction generally, § 1-2.

                    
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