§ 6-13.2-1 - Declaration of policy. - Rhode Island Statutes

SECTION 6-13.2-1

   § 6-13.2-1  Declaration of policy. –(a) Price comparison advertising is a form of advertising commonly used in thesale or offering for sale of precious metals and stones whereby current pricesare compared with former or future prices or other stated values to demonstrateprice reductions or cost savings. While price comparisons accurately reflectingmarket values in the trade area provide consumers with useful information inmaking value comparisons and market buying decisions, price comparisons basedon arbitrary or inflated prices or values can only serve to deceive or mislead.Further abuse occurs when sellers fail to disclose material informationessential to consumer understanding of the comparisons made.

   (b) The use of arbitrary or inflated price comparisons inviolation of this rule as an inducement to the sale of precious metals andstones is injurious to both the consuming public and competitors, and is anunfair trade practice and unfair method of competition.