| | |
| 4.__Whether the consumer price of the general class of items to | | which the item belongs has decreased since the merchant originally | | purchased it; |
|
| | | 5.__If the item is new, recently published prices or | | advertisements by retailers of similar new products in the same | | market area; and |
|
| | | 6.__If the item is used, the condition of the item. |
|
| | | The merchant shall keep up-to-date records concerning these | | factors and make a good faith effort to determine the item's fair | | market value when assigning it a cash price. |
|
| | | Sec. 6. 9-A MRSA §11-122 is enacted to read: |
|
| | | §11-122.__Unfair trade practice |
|
| | | Violation of this chapter is prima facie evidence of an unfair | | trade practice and violation of Title 5, section 207. |
|
| | | The purpose of this bill is to help ensure that consumers who | | enter into rent-to-own contracts and who eventually purchase the | | item are charged a price that is based on the actual fair market | | value of the item. |
|
|
