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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Legal
Satisfied Customers: 41221
Experience:  Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
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Any law governing extended warranty agreements in jewelry industry?

Resolved Question:

Any law governing extended warranty agreements in jewelry industry? I bought one and after 30 days I have to pay a 10% premium if I return it (every 30-days). thanks
Submitted: 5 years ago.
Category: Legal
Expert:  Dimitry K., Esq. replied 5 years ago.
Thank you for your question.

There is no federal law in place pertaining to an extended warranty based on jewelry--what would govern is your own agreement with the seller and his policy on returns. The agreement in place pertaining to charging a return is valid under state laws if it was disclosed to you, and is similar to the "open box" premiums many retailers charge for returned merchandise to the store after a certain period of time, or if the item was opened. Since you are not alleging some sort of defect or fraud with the item, the seller can charge a fee for restocking the item.

Good luck.
Customer: replied 5 years ago.
I compared other jewelers esa and they all offer 90-120 days before a premium is charged. I am in Texas. Is there any state law? also, does the Federal Trade Commission play a role?
Expert:  Dimitry K., Esq. replied 5 years ago.
Thank you for your follow-up.

This is a private seller and he can set his own return policy. The FTC has absolutely nothing to do with this as this is a private seller, and this isn't interstate commerce (even if it was, the seller can still choose to set whatever return policy he chooses). After reviewing Texas state law exceptions on contracts, jewelry contracts are not considered unique or especially modified or reviewed under state law, meaning there is no specific state regulation requiring a specific amount for a return, or even if a return is even permitted. Therefore the seller can set his own terms, even if those terms are not competitive to others in the industry. If you elect to do business with this seller be aware of his terms.

Good luck.
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