9/30/2011

Caveat emptor


Federal Trade Commission (FTC) is a U.S. Government agency responsible for regulating trade; its chief focus is to prevent fraud and deceptive business practices and to


Caveat emptor is a Latin phrase for “let the buyer beware,” and was first laid down as a principal in United States law in 1817, in a decision written by Chief Justice, John Marshall for Laidlaw v. Organ.  Caveat venditor, “let the seller beware,” is the counter to caveat emptor.


                                                          

Muscle building quackery and misinformation is everywhere.
One of the hottest products the last couple of years is the ‘muscle building’ shoes sold by several major shoe companies. Sold mostly to women, one of the advertising slogans if “your boobs will be jealous,” implying your legs will look so great other bodyparts will pale in comparison. Cute.

Here is my question:  Is it the reponsibility of the Federal gubmint to protect her citizens or should businesses follow B.T. Barnum's claim that "there is a fool born every minute."

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