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Montana Title 30. Trade and Commerce § 30-14-202. Definitions

Current as of January 01, 2024 | Updated by Findlaw Staff

As used in this part, unless the context indicates otherwise, the following definitions apply:

(1)(a) “Article of commerce” includes but is not limited to any commodity, product, service or output of a service trade, or any product of the soil.

(b) The term does not include a product or service of a public utility.

(2) “Business” includes any person, domestic or foreign, engaged in the production, manufacture, distribution, purchasing, or sale of any article of commerce within the state of Montana.

(3)(a) “Cost”, as applied to production, includes the cost of raw materials, labor, and all overhead expenses of the producer.

(b) Cost, as applied to distribution, means either the invoice price of the article or product sold or the cost to the dealer or vendor for replacing the article or product in the quantity last purchased within 90 days prior to the sale of the article or product, whichever is less, minus all trade discounts except customary cash discounts plus the cost of doing business by the vendor.

(4) “Cost of doing business” or “overhead expense” includes all costs of doing business incurred in the conduct of a business and includes but is not limited to the following items of expense:

(a) labor (including salaries of executives and officers);

(b) rent;

(c) interest on borrowed capital;

(d) depreciation;

(e) selling cost;

(f) maintenance of equipment;

(g) delivery costs;

(h) credit losses;

(i) all types of licenses;

(j) taxes;

(k) insurance and advertising.

(5) “Customary cash discount” means any allowance not exceeding 2%, whether a part of a larger discount or not, made to a wholesale or retail vendor when the vendor pays for merchandise within a limited or specified time.

(6) “Department” means the department of justice provided for in 2-15-2001.

(7) “Person” includes any person, partnership, firm, corporation, joint-stock company, or other association engaged in business within this state.

(8) “Vendor” includes not only any person acting as one known generally and legally as a vendor but also any person who performs work upon, renovates, alters, or improves any personal property belonging to another person.

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Cite this article: FindLaw.com - Montana Title 30. Trade and Commerce § 30-14-202. Definitions - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-30-trade-and-commerce/mt-st-30-14-202/

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