Section 10-15-01-06 - Use of list price or similar comparisonsIt is a deceptive act or practice for a seller to make a price comparison or to claim a savings, expressed or implied, from a list price or term of similar meaning, unless:
1. The list price does not exceed the highest price at which substantial sales of the merchandise have been made in the seller's trade area; 2. The list price is the price at which the seller offered the merchandise for a reasonably substantial period of time in the recent, regular course of its business, openly, actively, and in good faith, with an intent to sell the merchandise at that price; 3. The list price does not exceed the highest price at which the product is offered by a reasonable number of sellers in the seller's trade area for a reasonably substantial period of time in the recent, regular course of business; or 4. The list price does not exceed the seller's cost plus the percentage markup regularly used by the seller in the actual sale of such merchandise or merchandise of a similar class or kind, in the seller's recent, regular course of business. N.D. Admin Code 10-15-01-06
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