§ 580 — Purpose and intent

New York § 580

• Jurisdiction: New York
• Law GBS: General Business
• Art. 29-F: Going Out of Business Sales

Text

§ 580. Purpose and intent. It is hereby determined and declared that\nsales to be licensed and regulated pursuant to the provisions of this\narticle have often been conducted and advertised in such a manner as to\nmislead and defraud the public and otherwise to result in harm to the\npublic interest. Such fraud and imposition on the public has included,\nby way of partial enumeration only: the misrepresentation of the\ncondition or necessity which is the occasion of such sale; the\nmisrepresentation of the identity of the person conducting such sale,\nand the name and style in which such sale is to be conducted; the\nmisrepresentation that the goods offered at such sale are selling at\nsacrifice prices; the misrepresentation that the operator of the sale is\nselling merchandise on hand at the time when the necessity, which is the\noccasion of such sale, arose, when in fact he is replenishing his stock\nwith additional merchandise both prior to the commencement and during\nthe conduct of such sale so as to foist upon the public such added\nmerchandise as though it were part of the original stock; and the\nexcessive valuation and misrepresentation of the quality, former price\nand ownership of the goods to be sold at such sale. In order to prevent\nsuch fraud and imposition, the public interest requires the regulation\nof such sales and the duration and conduct thereof; and the public\ninterest, therefore requires that no such sale should be conducted\nwithout a license or otherwise than in accordance with this article.\n