Federal Trade Commission regulation for cooling off period

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Reference no: EM133857337

Question

The Federal Trade Commission regulation for "cooling off period" is a law set in place that I think can be beneficial and even save time and money for consumers. I think that major purchases over $10,000 or more should definitely fall into this category of cooling off period. I've heard a couple testimonies of door-to-door salesmen that have been quite persuasive and gotten people to purchase something or sign into a contract that they later regret. Although we all think it may be difficult for someone to convince you to buy something you don't want or need, the pressure and being unable to say no plays a big role in this. With adding the cooling period to purchases over $10,000 people may have the security to think about the contract or speak to someone and do the proper research. This serves almost like a guarantee receipt that you can return an item after a certain amount of time.

Reference no: EM133857337

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