Chapter 16. The Importance of Warranties

Historical Perspective: early of this century protection laws were nonexistent. “caveat emptor” means let the buyer beware, was a common phrase used by many consumers. The Federal Trade Commision Act sets the guideline that the sellers must adhere to. “caveat venditor” means let the seller beware.

Aim: How do consumer protection law protect us?

Fraudulent Misrepresentations:

a. false statements made by the seller that deceives the buyer. Making false statements about the construction, durability, reliability, safety, strength, condition, or life expectancy of a product is a deceptive practice.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s