Louisiana Revised Statutes 51:38 – Purchase of additional goods for resale
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Terms Used In Louisiana Revised Statutes 51:38
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- 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.
- Fiduciary: A trustee, executor, or administrator.
- Goods: includes goods, wares, and merchandise. See Louisiana Revised Statutes 51:31
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
No person intending to conduct a fire, bankruptcy, or fiduciary sale under the license required by La. Rev. Stat. 51:33 shall order any goods for the purpose of selling and disposing of the same at the sale, and any unusual purchase and additions to the stock of goods within sixty days prior to the filing of the application for license to conduct the sale mentioned in La. Rev. Stat. 51:34 shall be presumptive evidence that the purchases and additions to stock were made in contemplation of the sale and for the purpose of selling the purchases and additions at the sale.
Acts 1986, No. 806, §1; Acts 1995, No. 669, §1.