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Consumer Law- BUL6444 - CONSUMER LAW I Federal Trade...

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CONSUMER LAW I. Federal Trade Commission Act of 1914 A. General - anti-trust law - also creates the Federal Trade Commission (FTC) and gives it broad powers to administer the anti-trust laws - prohibits “unfair methods of competition in or affecting interstate commerce, and unfair or deceptive acts or practices in or affecting commerce...” B. False and Deceptive Advertising - applies to factual statements made that are false or misleading (does not apply to sales talk or “puffing”) - a “SALE!” better be a “SALE!” - includes Bait-and-Switch advertising C. Regulation of Certain Sales 1) door to door sales: buyer has 3 business days to avoid contract 2) any transaction in which a buyer/debtor gives their primary residence as collateral for a debt: debtor has 3 business days to avoid contract 3) Telemarketing Sales Rule (1995) requires telemarketers to: --inform recipient that it’s a sales call --identify the product being sold --identify the seller’s name --state the total cost of the goods being sold --any restrictions on obtaining or using the product 4) Mail/Telephone/Internet Order Merchandise Rule (1993) requires mail-order merchants to: --ship orders within promised time --notify customers when goods not shipped on time --issue a refund if customer cancels order II. Telephone Advertising A. Telephone Consumer Protection Act (1991)
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