Section 37-14-2 - "New Merchandise" and "auction sale" defined.
37-14-2. "New Merchandise" and "auction sale" defined. "New merchandise," as used in §§ 37-14-2 to 37-14-5, inclusive, means any merchandise not previously sold at retail. "Auction sale," as used in this chapter means the offering for sale or selling of personal property to the highest bidder or offering for sale or selling of personal property at a high price and then offering the personal property at successive lower prices until a buyer is secured.
Source: SL 1955, ch 233, § 7; SDC Supp 1960, § 54.0509; SL 1998, ch 242, § 1.