Delaware Code Title 6 Sec. 4722 – Receipts of purchase required for resale; maintenance and inspection …
(a) No unused property merchant shall offer any new and unused property for sale at an unused property market for which the merchant does not possess a receipt of sale or equivalent documentary evidence of true ownership.
Terms Used In Delaware Code Title 6 Sec. 4722
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- New and unused property: shall mean tangible personal property that was acquired by the unused property merchant directly from the producer, manufacturer, wholesaler or retailer in the ordinary course of business which has never been used since its production or manufacturing or which is in its original and unopened package or container, if such personal property was so packaged when originally produced or manufactured. See Delaware Code Title 6 Sec. 4720
- Person: means a natural person, partnership (whether general or limited), limited liability company, trust (including a common law trust, business trust, statutory trust, voting trust or any other form of trust), estate, association (including any group, organization, co-tenancy, plan, board, council or committee), corporation, government (including a country, state, county or any other governmental subdivision, agency or instrumentality), custodian, nominee or any other individual or entity (or series thereof) in its own or any representative capacity, in each case, whether domestic or foreign. See Delaware Code Title 6 Sec. 17-101
- Unused property market: means any event at which persons offer personal property for sale or exchange, and which involves a series of sales sufficient in number, scope and character to constitute a regular course of business; provided, however, that the event occurs at least 6 times in any 12-month period. See Delaware Code Title 6 Sec. 4720
- Unused property merchant: means any person, other than a vendor or merchant with an established retail store in the county, who transports an inventory of goods to a building, vacant lot or other unused property market location and who, at that location, displays the goods for sale and sells the goods at retail or offers the goods for sale at retail and shall include any transient retailer. See Delaware Code Title 6 Sec. 4720
(b) Every unused property merchant shall maintain receipts for the purchase of, or other documentary evidence of true ownership of, new and unused property for a period of not less than 2 years from the date of acquisition by the unused property merchant.
(c) Receipts for the purchase for new and unused property, and any other documentary evidence of true ownership, must contain at least:
(1) The date of the transaction;
(2) The name and address of the person, corporation or entity from whom the new and unused property was acquired;
(3) An identification and description of the new and unused property acquired;
(4) The price paid for such new and unused property; and
(5) The signature of the seller and buyer of the new and unused property.
(d) No unused property merchant shall:
(1) Falsify, obliterate or destroy such receipts, or knowingly allow the same to occur; or
(2) Refuse or fail, upon request, to make such receipts available for inspection within a period of time which is reasonable under the individual circumstances surrounding such request.
(e) Nothing contained in this section shall be construed to require the unused property merchant to possess such receipt on or about his or her person without reasonable notice.