§ 70h. — Guaranty.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC70h]
TITLE 15--COMMERCE AND TRADE
CHAPTER 2--FEDERAL TRADE COMMISSION; PROMOTION OF EXPORT TRADE AND
PREVENTION OF UNFAIR METHODS OF COMPETITION
SUBCHAPTER V--TEXTILE FIBER PRODUCTS IDENTIFICATION
Sec. 70h. Guaranty
(a) Avoidance of liability; requirements
No person shall be guilty of an unlawful act under section 70a 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 textile fiber product guaranteed was
manufactured or from whom it was received, that said product is not
misbranded or falsely invoiced under the provisions of this subchapter.
Said guaranty shall be (1) a separate guaranty specifically designating
the textile fiber product guaranteed, in which case it may be on the
invoice or other paper relating to said product; or (2) a continuing
guaranty given by seller to the buyer applicable to all textile fiber
products sold to or to be sold to buyer by seller in a form as the
Commission, by rules and regulations, may prescribe; or (3) a continuing
guaranty filed with the Commission applicable to all textile fiber
products handled by a guarantor in such form as the Commission by rules
and regulations may prescribe.
(b) Furnishing false guaranty
The furnishing of a false guaranty, except where the person
furnishing such false guaranty relies on 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 product guaranteed
was manufactured or from whom it was received, is unlawful, and shall be
an unfair method of competition, and an unfair and deceptive act or
practice, in commerce, within the meaning of the Federal Trade
Commission Act [15 U.S.C. 41 et seq.].
(Pub. L. 85-897, Sec. 10, Sept. 2, 1958, 72 Stat. 1722.)
References in Text
The Federal Trade Commission Act, referred to in subsec. (b), is act
Sept. 26, 1914, ch. 311, 38 Stat. 717, as amended, which is classified
generally to subchapter I (Sec. 41 et seq.) of this chapter. For
complete classification of this Act to the Code, see section 58 of this
title and Tables.
Section Referred to in Other Sections
This section is referred to in sections 70f, 70i of this title.
