Consumer protection laws were established in the United States because of which of the following?1. Industrialization of U.S. urban areas 2.Inequities in the common law due to the doctrine of caveat emptor 3.The creation of the doctrine of caveat emptor 4.Proliferation of fraud and misrepresentation in consumer transactions
Expert Answer
Correct Answer:
4. Proliferation of fraud and misrepresentation in consumer transactions
Answer:
The consumer protection laws are enacted due to the rising number of cases of fraud in the market place, misrepresentation of the facts about the product and other ill intentions of the sellers due to the asymmetry of information between
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