CAN THE REPLACEMENT VALUE OF MERCHANDISE SERVE AS PROOF OF ASCERTAINABLE LOSS UNDER THE NEW JERSEY CONSUMER FRAUD ACT?
if a merchant violates the New Jersey Consumer Fraud Act by delivering defective merchandise and thereafter refuses to provide conforming merchandise, New Jersey Consumer Fraud Act claimants ascertainable loss is measured by the replacement value of those merchandise. A New Jersey Consumer Fraud Act claimant may be entitled to recover their “expectation interest”, so that a merchant who promises to deliver a product at a particular price must, at New Jersey Consumer Fraud Act claimants option either deliver the product promised or its replacement value. That merchant cant evade its promise by offering a mere refund of the products purchase price or a replacement product at a higher cost. Under the New Jersey Consumer Fraud Act, there is a rebuttable presumption that the regular price advertised on a sales sticker is a products replacement value. To defeat the presumption, the merchant defending against a New Jersey Consumer Fraud Act claim must produce alternative evidence of the produ
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