Andy signed a negotiable note to Scott’s Appliance Store to purchase a refrigerator for his home. The note contained all of the notices required by the Federal Trade Commission. The refrigerator did not perform as promised, often spewing water all over the floor. Andy planned to contact the appliance store the next day. Scott’s Appliance Store negotiated Andy’s note to Alliance Appliances, who took the note in good faith and with no notice of the breach of warranty.
Use the Internet to locate the FTC provision that regulates consumer credit transactions.
Does the FTC regulation apply to this case? Will Andy be required to pay the amount owed on the refrigerator to Alliance Appliances?
Would the FTC regulation you found apply if Andy paid for the refrigerator with a personal check? If Andy paid with a personal check would he be required to pay Alliance Appliance?
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