[481D-1] Definitions. As used in this chapter:

"Going out of business sale" means any sale, whether described by that name or any other name including but not limited to "closing out sale", "lost our lease sale", "forced to vacate sale", and "inventory close out sale", held in a manner as to induce a belief that upon disposal of the stock of goods on hand, the business will cease and be discontinued at the premises where the sale is conducted, and that otherwise complies with all applicable laws and rules relating to sales and conduct of sales.

"Goods" includes all goods, wares, merchandise, and other personal property, excepting choses in action and money.

"Person" includes a person, firm, corporation, partnership, association, or two or more persons having a joint or common interest.

"Removal sale" means any sale held in such a manner as to induce a belief that upon disposal of the stock of goods on hand, the business will cease and be discontinued at the premises where the sale is conducted, and thereafter will be moved to occupy another location. [L 1994, c 98, pt of 1; am L 1996, c 271, 3]

 

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