Use of sale terminology.

10-15-01-09. Use of sale terminology. It is a deceptive act or practice for a seller to use terms such as "sale", "sales prices", "now only $_____", or other words and phrases that imply a price savings unless the price of the merchandise is reduced by a reasonable amount from the former price of the merchandise. If the seller reduces the price by five percent or more from the former price, a rebuttable presumption exists that the price reduction was of a reasonable amount. However, the term "sale" may be used in an advertisement where not all items are offered at a reduction from regular price if the items are clearly and conspicuously identified. History: Effective January 1, 1994. General Authority: NDCC 51-12-09, 51-15-05, 54-12-17 Law Implemented: NDCC 51-12-09, 51-15-01, 51-15-02