Section 56-16-90 - Unfair competition and unfair or deceptive acts or practices(a) Unfair methods of competition and unfair or deceptive acts or practices as defined in Section 56-16-100 are declared to be unlawful.(b) In construing paragraph (a) the courts may be guided by the definitions in the Federal Trade Commission Act ( 15 U.S.C. 45 ).1984 Act No. 511, Section 1.