Commercial Law – General Regulatory Provisions

CHAPTER 6-13.2
Comparison Price Advertising for Precious Metal and Stones

SECTION 6-13.2-4

§ 6-13.2-4. Price comparison – General.

(a) It shall be an unfair or deceptive act or practice for a seller to make any price comparison:

(1) Based upon a price other than one at which the consumer property was either sold or offered for sale by the seller or a competitor, or will be sold or offered for sale by the seller in the future, in the regular course of business in the trade area in which the price comparison is made;

(2) In which the consumer property materially differs in composition; grade or quality; style or design; model; name or brand; kind or variety; or service and performance characteristics; unless the general nature of the material differences is conspicuously disclosed in the advertisement with the price comparison, or the class of property being offered is similar to but is of superior quality grade, materials, or draftsmanship than the consumer property to which the seller is comparing its product; or

(3) Unless all the material price terms and conditions of any offer that are based upon the purchase of other merchandise are conspicuously disclosed. Those types of offers shall include, but are not limited to "free"; "two for one"; "two-fer"; "half-price sale"; "one cent sale"; "fifty percent off "; or other similar type of offer.

(b) No price comparison under this section may be made by a seller based on a price that exceeds his or her cost plus normal markup regularly used by him or her in the sale of that property, or consumer property or services of like kind.

History of Section.
(P.L. 1992, ch. 408, § 1; P.L. 2014, ch. 528, § 11.)