Current through 2024 NY Law Chapter 553
Section 396-N - Sales with "money back guarantee" and with "limited guarantee"1. Definitions. As used in this section: (a) "Seller" shall include any person, firm, partnership or corporation.(b) "Goods" shall mean merchandise that is bought for use primarily for personal, family or household purposes.(c) "Money back guarantee" shall mean a promise made by a seller to a purchaser to repay, within the time period specified by the seller and upon the return of the merchandise, the full purchase price thereof.(d) "Limited guarantee" shall mean a promise made by a seller to a purchaser to repay, within the time period specified by the seller and upon the return of the merchandise, a portion of the purchase price, the computation of which shall be described in the terms of the guarantee.2. Whenever a seller offers or advertises for sale goods with a guarantee that promises the return of the purchase price, upon the return of the merchandise, such guarantee shall be deemed to be a money back guarantee unless the term "limited guarantee" is used and the terms of limitation of such guarantee are specified.N.Y. Gen. Bus. Law § 396-N