Before the rule could take effect however, the FTC (whose membership had changed in the meantime) decided to reconsider whether the rule should contain known defects disclosure. Subsequently, the Used Car Rule was reissued (effective May 9, 1985) deleting this important consumer protection. This ...
The Supreme Court has articulated the general rule for determining a relevant product market: "The outer boundaries of a product market are determined by the reasonable interchangeability of use [by consumers] or the cross-elasticity of demand between the product itself and substitutes for it."Brown...
Under the Rule, the definition of “creditor” is broad, and includes businesses or organizations that regularly provide goods or services first and allow customers to pay later.4Examples of groups that may fall within this definition are utilities, health care providers, lawyers, accountants, and ...