15 U.S.C. § 69h — Guaranty

submitted 75 years ago by ch. 298 to r/title-15-COMMERCE-AND-TRADE · 285 words · no verdicts yet

in plain englishAI-generated · not legal advice

A person avoids liability under section 69a with a good-faith guaranty from a U.S. manufacturer or supplier. The guaranty can cover one specific product or be a continuing guaranty filed with the Commission. Knowingly furnishing a false guaranty is an unfair or deceptive practice under the Federal Trade Commission Act.

(a) A person is not guilty under section 69a of mislabeling or falsely advertising a fur product if they have a guaranty. This guaranty must be received in good faith. It must be signed by, and show the name and address of, the U.S. resident who manufactured the fur product or fur, or who supplied it to them. The guaranty must state that the product is not misbranded and is not falsely advertised or invoiced under this subchapter. The guaranty can take two forms: (1) a separate guaranty naming that specific fur product or fur, which can appear on the invoice or another related paper; or (2) a continuing guaranty filed with the Commission, covering any fur product or fur the guarantor handles, in whatever form the Commission's rules require. (b) It is against the law to give a false guaranty about a fur product or fur. This applies when the person giving the guaranty has reason to believe the falsely guaranteed product might be introduced, sold, transported, or distributed in commerce. There is one exception: a person is protected if they relied in good faith on a guaranty, to the same effect, that they themselves received — one signed by and naming the U.S. resident manufacturer or supplier. Anyone who violates this rule is guilty of an unfair method of competition and an unfair or deceptive act or practice, as defined by the Federal Trade Commission Act.

the actual law source: uscode.house.gov ↗public domain

(a) Avoidance of liability; requirements

No person shall be guilty under section 69a of this title if he establishes a guaranty received in good faith signed by and containing the name and address of the person residing in the United States by whom the fur product or fur guaranteed was manufactured or from whom it was received, that said fur product is not misbranded or that said fur product or fur is not falsely advertised or invoiced under the provisions of this subchapter. Such guaranty shall be either (1) a separate guaranty specifically designating the fur product or fur guaranteed, in which case it may be on the invoice or other paper relating to such fur product or fur; or (2) a continuing guaranty filed with the Commission applicable to any fur product or fur handled by a guarantor, in such form as the Commission by rules and regulations may prescribe.

(b) Furnishing false guaranty

It shall be unlawful for any person to furnish, with respect to any fur product or fur, a false guaranty (except a person relying upon a guaranty to the same effect received in good faith signed by and containing the name and address of the person residing in the United States by whom the fur product or fur guaranteed was manufactured or from whom it was received) with reason to believe the fur product or fur falsely guaranteed may be introduced, sold, transported, or distributed in commerce, and any person who violates the provisions of this subsection is guilty of an unfair method of competition, and an unfair or deceptive act or practice, in commerce within the meaning of the Federal Trade Commission Act [15 U.S.C. 41 et seq.].

Source credit: (Aug. 8, 1951, ch. 298, § 10, 65 Stat. 181.)

history & why it existsrecord from the source credit

1951Enacted · Act of Aug. 8, 1951, ch. 298 · 65 Stat. 181

A history note hasn’t been published yet. The record shows enactment by ch. 298 on 1951-08-08.

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