Is there a law that after a retail item has been sold by a business and then goes on sale for a lesser price that the business has to refund the difference? If so, is there a time limit on this refund?
We all like a bargain, even after the fact. While some stores will refund the difference if a product later goes on sale, it is to make customers happy rather than a law, according to Johns, Flaherty & Collins attorney Brian Weber.
Ã¢â¬ÅMany stores have a policy where they refund the difference, but that is simply for public relations purposes,Ã¢â¬Â Weber said. Ã¢â¬ÅThe analogy is that you don't have to pay the difference if the price goes up either.Ã¢â¬Â
While some stores will refund the difference, check out their policy before you buy. Often the opportunity has a short window like 14 to 30 days.
For more information about laws governing retail purchases, contact Brian Weber at 608-784-5678.
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