United States Code
TITLE 15 - COMMERCE AND TRADE
CHAPTER 2 - FEDERAL TRADE COMMISSION; PROMOTION
OF EXPORT TRADE
70h. Guaranty
(a) Avoidance of liability; requirements
No person shall be guilty of an unlawful act under section 70a of this
title if he establishes a guaranty received in good faith, signed by and
containing the name and address of the person residing in the United States
by whom the textile fiber product guaranteed was manufactured or from
whom it was received, that said product is not misbranded or falsely invoiced
under the provisions of this subchapter. Said guaranty shall be (1) a
separate guaranty specifically designating the textile fiber product guaranteed,
in which case it may be on the invoice or other paper relating to said
product; or (2) a continuing guaranty given by seller to the buyer applicable
to all textile fiber products sold to or to be sold to buyer by seller
in a form as the Commission, by rules and regulations, may prescribe;
or (3) a continuing guaranty filed with the Commission applicable to all
textile fiber products handled by a guarantor in such form as the Commission
by rules and regulations may prescribe.
(b) Furnishing false guaranty
The furnishing of a false guaranty, except where the person furnishing
such false guaranty relies on a guaranty to the same effect received in
good faith signed by and containing the name and address of the person
residing in the United States by whom the product guaranteed was manufactured
or from whom it was received, is unlawful, and shall be an unfair method
of competition, and an unfair and deceptive act or practice, in commerce,
within the meaning of the Federal Trade Commission Act (15 U.S.C. 41 et
seq.).
From A service of the Legal Information Institute.
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