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.
"Many stores have a policy where they refund the difference, but that is simply for public relations purposes," Weber said. "The analogy is that you don't have to pay the difference if the price goes up either."
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.