MCS 3040 Chapter 23: Chapter 23- Sales and Marketing-1.docx

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All three levels of government regulate marketing: federal, provincial and municipal. To protect consumers from unfair selling practices. These objectives give rise to laws regulating a multitude of issues including: Implied conditions and warranties for the sale of goods and services. Marketing law: all areas of law that influence and direct the creation, promotion, pricing and distribution of goods and services, or ideas. The foundation of the common law concerning the product is contained in the latin phrase caveat emptor. The law requires prospective purchasers to take care of themselves, to be aware of what they are purchasing, and to make appropriate investigations before buying it. However the caveat emptor law produces unfair results and therefore a protection for the purchaser of goods were provided. Caveat emptor: let the buyer beware or let the buyer take care . Sale of goods legislation applies only to the sale of goods.