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- Title
REGULATIONS OF PRODUCT CHARACTERISTICS.
- Authors
Werner, Ray O.; Katz, Benjamin J.
- Abstract
The article presents legal developments in marketing with particular focus on the U.S. Federal Trade Commission's (FTC) complaint against Beneficial Finance Co. In accordance with state law, the company made its customers aware that they have the same rights against any finance company or bank which is a third party creditor of their credit sales contract as they would have against the merchant or dealer who made the sale. The company then sent a notice that their customers would lose their rights if they failed to take action within a certain time limit. The complaint stemmed from the FTC finding no such time limit in the original law. The company was forced to inform their customers that no time limit ever existed.
- Subjects
UNITED States; COMMERCIAL products -- Law &; legislation; COMMERCIAL law; CONSUMER protection; UNITED States. Federal Trade Commission; REGULATION of financial institutions; FINANCE companies; BANKING laws; CREDIT laws; BENEFICIAL Corp.
- Publication
Journal of Marketing, 1981, Vol 45, Issue 2, p137
- ISSN
0022-2429
- Publication type
Article