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?
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.