§ 66-76. Definitions. - North Carolina Statutes

Article17.

Closing‑Out Sales.

§ 66‑76.  Definitions.

For the purposes of thisArticle, "closing‑out sale" shall mean and include all salesadvertised, represented or held forth under the designation of "going outof business," "discontinuance of business," "sellingout," "liquidation," "lost our lease," "mustvacate," "forced out," "removal," or any otherdesignation of like meaning; "distress sale" shall mean and includeall sales in which it is represented or implied that going out of business ispossible or anticipated, in which closing out is referred to in any way, or inwhich it is implied that business conditions are so difficult that the selleris forced to conduct the sale; and "person" shall mean and includeindividuals, partnerships, voluntary associations and corporations. (1957,c. 1058, s. 1; 1981, c. 633, s. 1.)