Under State Law in Many States and Under the FTC

question 44

Multiple Choice

Under state law in many states and under the FTC rules and the Federal Consumer Credit Protection Act, a contract solicited in a consumer's home may be canceled within:

• A) 10 days by either party.
• B) 10 days by the consumer.
• C) three days by the consumer.
• D) 20 days by either party.

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Definitions:

Trade Secret

Information that is not known to the public, confers a business advantage over competitors, and is subject to reasonable steps to keep it confidential.

Patent

A legal right granted by the government to an inventor, giving them the exclusive right to make, use, and sell their invention for a certain period of time.

Special Damages

Damages that are specific and quantifiable losses suffered by a plaintiff, typically economic losses such as lost earnings or medical bills.

Injurious Falsehood

A false statement that is intentionally or negligently made and causes damage to another's reputation, business, or property rights.