75-24-3 - Definitions.
§ 75-24-3. Definitions.
As used in this chapter:
(a) "Person" means natural persons, corporations, trusts, partnerships, incorporated and unincorporated associations, and any other legal entity.
(b) "Trade" and "commerce" mean the advertising, offering for sale, or distribution of any services and any property, tangible or intangible, real, personal or mixed, and any other article, commodity, or thing of value wherever situated, and shall include without limitation, both domestic and foreign persons, irrespective of their having qualified to do business within the state and any trade or commerce directly or indirectly affecting the people of this state.
(c) It is the intent of the Legislature that in construing what constitutes unfair or deceptive trade practices that the courts will be guided by the interpretations given by the Federal Trade Commission and the federal courts to Section 5(a)(1) of the Federal Trade Commission Act (15 USCS 45(a)(1)) as from time to time amended.
Sources: Laws, 1974, ch. 555, § 2; Laws, 1994, ch. 537, § 1, eff from and after passage (approved March 29, 1994).