Maryland Code, COMMERCIAL LAW 14-801
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Terms Used In Maryland Code, COMMERCIAL LAW 14-801
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(a) In this subtitle the following words have the meanings indicated.
(b) “Person” includes an individual, corporation, business trust, statutory trust, estate, trust, partnership, association, two or more persons having a joint or common interest, or any other legal or commercial entity.
(c) (1) “Used radio or television set” means any radio set or television set which is used, rebuilt, reconditioned, or repossessed.
(2) “Used radio or television set” does not include any set which is:
(i) Advertised or described and sold as antique goods; or
(ii) Returned by a retail customer if the sale price is canceled, refunded, or fully credited.