Regulatory Framework for Business Transactions (RFBT) CPALE Concept Notes: Consumer Protection & Lemon Law

Relevant Definition of Terms

Consumer sale wherein the seller uses the announcement to create the impression that he is willing to give large discounts or merchandise in order to reduce, dispose, or close out his inventory and business

Closing Out Sale

Goods, services and credits, debts or obligations which are primarily for personal, family, household or agricultural purposes, which shall include but not be limited to food, drugs, cosmetics, and devices