Business Law

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Business Law
2011-05-03 13:12:03
Chapter Forty Four

Consumer Law
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  1. Advertising a product at a very attractive price (the bait) and then informing the consumer, once he or she is in the store, that the advertised product is either not available or is of poor quality; the customer is then urged to purchase (switched to) a more expensive item.
    Bait-And-Switch Advertising
  2. An administrative or judicial order prohibiting a person or business firm from conducting activities that an agency or court has deemed illegal.
    Cease-And-Desist Order
  3. The body of statutes, agency rules, and judicial decisions protecting consumers of goods and services from dangerous manufacturing techniques, mislabeling, unfair credit practices, deceptive advertising, and so on. ____ provide remedies and protections that are not ordinarily available to merchants or to businesses.
    Consumer Law
  4. New advertising that is undertaken pursuant to a Federal Trade Commission order for the purpose of correcting earlier false claims that were made about a product.
  5. Advertising that misleads consumers, either by making unjustified claims concerning a product's performance or by omitting a material fact concerning the product's composition or performance.
    Deceptive Advertising
  6. An order issued by the Federal Trade Commission to a firm that has engaged in deceptive advertising by which the firm is required to cease and desist from false advertising not only in regard to the product that was the subject of the action but also in regard to all the firm's other products.
    Multiple Product Orders
  7. A set of rules promulgated by the Federal Reserve Board to implement the provisions of the Truth-in-Lending Act.
    Regulation Z
  8. An initial notice to a debtor from a collection agency informing the debtor that he or she has thirty days to challenge the debt and request verification.
    Validation Notice