Sec. 7.
"New merchandise" as used in this act shall mean all merchandise not previously sold at retail. "Auction sale" as used in this act shall mean the offering for sale or selling of personal property to the highest bidder, or offering for sale or selling of personal property at a high price and then offering the same at successive lower prices until a buyer is secured.
History: 1955, Act 224, Imd. Eff. June 18, 1955
Structure Michigan Compiled Laws
Chapter 446 - Business Regulation
Act 224 of 1955 - Public Auctions (446.51 - 446.60)
Section 446.51 - Sale of New Merchandise at Public Auction; License Required.
Section 446.52 - Licenses; Application, Filing, Contents.
Section 446.54 - Licenses; Fees.
Section 446.55 - Licenses; Issuance, Transferability, Validity.
Section 446.56 - Report of Sale and Inventory of Unsold Merchandise; Filing.
Section 446.57 - Licensing of Sales by Auction; Definitions.
Section 446.58 - Cappers, Boosters, Shillers or False Bids Prohibited.