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Terms Used In Maryland Code, COMMERCIAL LAW 14-101

  • 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) “Consumer commodity” means any food, drug, cosmetic, or other article, product, or commodity of any kind or class which is:

(1) Customarily produced for sale at retail for consumption by individuals for purposes of personal care or in the performance of services ordinarily performed in or around the household; and

(2) Usually consumed or expended in the course of that use or performance other than by wear or deterioration from use.

(c) “Division” means the Division of Consumer Protection of the Office of the Attorney General.

(d) “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.

(e) “Unit price” means the retail price of an item expressed in dollars and cents per unit. In addition to any units commonly in use in the United States, the following units may be used if appropriate:

(1) Per pound for an item the net quantity of which is expressed in pounds, ounces, or both;

(2) Per kilogram (1000 grams) for an item the net quantity of which is expressed in kilograms, grams, or both;

(3) Per meter (100 centimeters) for an item the net quantity of which is expressed in meters, centimeters, millimeters, or a combination of them;

(4) Per quart for an item the net quantity of which is expressed in quarts, pints, fluid ounces, or a combination of them;

(5) Per liter for an item the net quantity of which is expressed in liters and milliliters, or a combination of them;

(6) Per 100 feet for an item the net quantity of which is expressed in yards, feet, inches, or a combination of them;

(7) Per 100 square feet for an item the net quantity of which is expressed in square yards, square feet, square inches, or a combination of them; or

(8) Per 100 units for an item the net quantity of which is expressed in terms of a numerical count.