§ 66-73. Definitions. - North Carolina Statutes

Article16.

Unfair Trade Practices inDiamond Industry.

§ 66‑73.  Definitions.

For the purpose of thisArticle:

(1)        A"diamond" is a natural mineral consisting essentially of pure carboncrystallized in the isometric system and is found in many colors.  Its hardnessis 10; its specific gravity approximately 3.52; and it has a refractive index2.42.

(2)        "A member ofthe diamond industry" shall be construed to mean any person, firm,corporation or organization engaged in the business of selling, offering for sale,or distributing in commerce, diamonds (other than industrial diamonds), whethercut, polished, or in the rough, synthetic diamonds and imitation diamonds, andof any jewelry items or other products containing diamonds, synthetic diamonds,or imitation diamonds.

(3)        "The diamondindustry" or "the industry" as used in this Article is a trade,industry or business which shall be construed to embrace all persons, firms,corporations and organizations engaged in selling, offering for sale, or thedistribution in commerce of diamonds (other than industrial diamonds), whethercut, polished or in the rough, synthetic diamonds and imitation diamonds, andof any jewelry item or other products containing diamonds, synthetic diamondsor imitation diamonds.

(4)        "Unfair tradepractices" as referred to herein are unfair methods of competition, unfairor deceptive acts or practices and other illegal practices which are prohibitedby law. (1957, c. 585, s. 1.)