As used in the Price Discrimination Act:

Terms Used In New Mexico Statutes 57-14-2

  • 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. “person” means an individual, partnership, association, corporation, joint-stock company or business trust;

B. “price” means the net price to the buyer after deduction of all discounts, rebates or other price concessions paid or allowed by the seller;

C. “commerce” means trade within this state; and

D. “commodity” means any movable article or any commercial service sold in commerce.