59.1-207.41 - Advertising former price of goods or services. - Virginia Statutes

§ 59.1-207.41. Advertising former price of goods or services.

No supplier shall in any manner knowingly advertise a former price of anygoods or services unless:

1. Such former price is the price at or above which substantial sales weremade in the recent regular course of business; or

2. Such former price was the price at which such goods or services or goodsor services of substantially the same kind, quality, or quantity and withsubstantially the same service were openly and actively offered for sale fora reasonably substantial period of time in the recent regular course ofbusiness honestly, in good faith and not for the purpose of establishing afictitious higher price on which a deceptive comparison might be based; or

3. Such former price is based on a markup that does not exceed the supplier'scost plus the usual and customary markup used by the supplier in the actualsale of such goods or services or goods or services of substantially the samekind, quality, or quantity and with substantially the same service, in therecent regular course of business; or

4. The date on which substantial sales were made, or the goods or serviceswere openly and actively offered for sale for a reasonably substantial periodof time at the former price is advertised in a clear and conspicuous manner.

(1992, c. 768.)