66-76. Definitions.
For the purposes of this Article, "closing-out sale" shall mean and include all sales advertised, represented or held forth under the designation of "going out of business," "discontinuance of business," "selling out," "liquidation," "lost our lease," "must vacate," "forced out," "removal," or any other designation of like meaning; "distress sale" shall mean and include all sales in which it is represented or implied that going out of business is possible or anticipated, in which closing out is referred to in any way, or in which it is implied that business conditions are so difficult that the seller is forced to conduct the sale; and "person" shall mean and include individuals, partnerships, voluntary associations and corporations. (1957, c. 1058, s. 1; 1981, c. 633, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 66 - Commerce and Business
Article 17 - Closing-Out Sales.
§ 66-78 - Additions to stock in contemplation of sale prohibited.
§ 66-79 - Replenishment of stock prohibited.
§ 66-80 - Continuation of sale or business beyond termination date.
§ 66-81 - Advertising or conducting sale contrary to Article; penalty.
§ 66-82 - Sales excepted; liability for dissemination of false advertisement.