Exam 18: Consumer Protection

Which of the following buyer's protections is not required by a "full" warranty under the Magnuson-Moss Warranty Act?

The Truth-in-Lending Act provides consumers a right of ________ whenever their home is used as collateral for credit except for original construction or acquisition.

Which of the following areas is not regulated by consumer protection laws?

Which of the following qualifies as a food additive?

Executive branch regulatory agencies are located in cabinet departments.

What is the purpose of the Truth in Lending Act.When does it apply? Set forth two typical transactions covered by the law.

Fact pattern 18-2 Janie is a pharmacist in Small City.She begins mixing up a mixture to treat indigestion that is ordered by several of the local physicians.She advertises the mixture,and she and prescribing physicians see a large increase in business.Other pharmacists who do not want to bother with mixing begin to complain.Janie takes the position that it is a free country,and she can do as she pleases since there is no evidence that the mixture is harmful; and it is particularly helpful for those individuals who have had reactions to other indigestion medication. -Refer to fact pattern 18-2.Is it legal for her to advertise the product?

Congress has made it a federal crime to engage in the extortionate extension of credit.

Unsolicited merchandise sent by U.S.mail may be kept by the recipient without incurring any obligation to the sender.

In a _________,the seller offers the buyer a commission,rebate,or discount for furnishing the seller with a list of additional prospective customers.

The _________ has the primary responsibility for regulating the packaging and labeling of commodities other than food,drugs,medical devices,and cosmetics.

Under the Magnuson-Moss Warranty Act,a seller who offers a written warranty on goods must provide a full warranty.

Discuss the purpose of the purpose of the Consumer Product Safety Commission and the process by which it sets mandatory safety standards.Discuss fully.

The Equal Credit Opportunity Act originally intended to prevent discrimination against ________ in the advancement of credit.

The first step in the FDA approval process for new drugs is their classification by the ________ based on currently accepted medical use and potential for abuse.

The Fair Debt Collection Practices Act applies only to third-party debt collectors.

The Federal Commerce Commission has adopted guidelines specifying when manufacturers and marketers can label their products "Made in USA."

Caveat emptor means,

________ is the legal procedure by which a creditor may collect a debt by attaching a portion of a debtor's weekly wages.

Courts usually consider advertisements to be only an offer to deal.