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For the purpose of this chapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
AUCTION SALE. 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.
NEW MERCHANDISE. Any merchandise not previously sold at retail.
(Prior Code, § 111.01)
Related provisions, see SDCL § 37-14-2