By Ana Gonzalez Ribeiro | September 21, 2014 — 11:00 AM EDT
You buy a new bike for your daughter as a birthday gift. When she tries it in the park three weeks later, you both notice the front tire is bent. What do you do? Should you fix it yourself and avoid the trouble of going back to the store? Has the return time lapsed? Is the bike it still covered under warranty? What do you if you didn't purchase extra insurance coverage?
The blue sweater, you bought has given you a rash. When you look at the label, you notice that it's not 100% cotton as advertised. Instead, it is made from a mix of unpronounceable materials. Can you dispute the seller's claims?
These are some of the scenarios that customers go through daily. Consumer protection laws are meant to protect us against these types of issues. That is why it's important to familiarize ourselves with the more common consumer protection laws.
Read more: Consumer Protection Laws You Need To Know http://www.investopedia.com/articles/pf/10/know-your-consumer-protection-laws.asp#ixzz4jI8qoIIV
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