OMVIC Practice Test

The inclusion of the mandatory "Sales Final" statement printed in 14 pt. bold font next to the buyer's signature on a purchase contract serves a critical purpose in consumer protection and clarity in transactions. This requirement ensures that the buyer is clearly informed that the sale is final and that they generally cannot return the product once the purchase is completed.

Using bold font of a specified size helps to emphasize this important provision, making it more noticeable and difficult to overlook. This reinforces the idea that consumers are making an informed decision at the time of the purchase by explicitly acknowledging the terms of the sale. Additionally, it aligns with regulatory standards that are designed to protect both consumers and dealers by ensuring that all parties understand the contractual obligations involved.

In contrast, other statements like "No Returns," "Final Sale," or "Sales Guaranteed" do not hold the same legal significance or clarity as the "Sales Final" statement required by regulations, as they may not clearly communicate the same binding contract terms. Ultimately, the stipulation for the "Sales Final" statement emphasizes the finality of the transaction, reinforcing buyer awareness and understanding at the moment of purchase.