§ 5-1. Definitions.

Latest version.

For the purposes of this chapter, the following words and phrases shall have the meanings respectively ascribed to them by this section:

Down hill selling: The first offering of personal property at a higher price and then offering such article at successive lower prices to secure a bidder.

Selling by public auction: The offering for sale or selling of any gold, silverware, brass ware, plated ware, china ware, glass ware, art ware, precious and semiprecious stones, watches, clocks, jewelry, furniture, clothing, furs, electrical and household appliances and novelties to the highest bidder or offering for sale or selling of any such personal property by the method known as down hill selling.

(Code 1967, § 6-1)

State law reference

Definitions relating to auctions, G.S. § 85B-1.

                    
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