Law I Deceptive Sales Practices Vocab

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Telemarketing facts:

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Even if you ask a telemarketer not to call again, they can legally do so if they don't break other telemarketing laws.

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Substantiation of advertising is:

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The legal requirement for advertisers to provide a reasonable basis for objective claims made in ads.

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Corrective advertising is

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A remedy by the FTC requiring false claims in ads to be admitted and corrected in future ads.

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Puffing is

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an exaggerated statement or advertisement regarding a product's desirability or reliability.

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A lien is

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the right to take possession of or hold a debtor's property until the debt for the property is paid in full.

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Bait and Switch is a strategy where a seller makes an insincere offer to attract customers, then criticizes the original product to sell a more expensive item.

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A strategy where a seller provides an insincere offer to sell a product on generous terms to get customers in the door, then proceeds to bash the original product and try to sell another, more expensive item.

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Phishing is

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when internet fraudsters send spam or pop-up messages that appear to be from a business you've dealt with, attempting to trick you into providing personal financial information.

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Federal consumer protection methods include setting standards, providing safety info, and issuing marketplace rules.

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Setting price ceilings and floors to regulate the economy.

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Class action refers to

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A lawsuit by one or more persons on behalf of a larger group.

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Remedy refers to

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Compensation for injury or enforcement of a right.