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chased by a customer for another job not involved with the firsg then a new transaction is involved requiring a new right to rescind and a new contract of sale or lien. The new right of rescision will not afiect property purchased for an earheq transaction.

By ROSS KlNcAtD

NEXT big all-industry marketing V conference at Salishan, Gleneden Beacho Ore., is in readiness. Remember these dates: September 16-1.?, with the opportunity for golf or salmon fishing on the 15. The marketing comminee, headed up by Ansel Hyland, has scheduled a unique and informative program. Each segment of the industry will have its opportunity to speak out.

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Ray C. Hallberg, Hallberg Homes, Portland, Ore., currently a vp. of the National Assn. of Home Builders, will be the featured speaker at the kickofi breakfast. He will look at distribution from a builder's point of view. Richard L. Bullock, publisher and editorial director, Building Materials Merch,aniliser, will be the Tuesday luncheon speaker. He plans to discuss the inroads on the housing market being made by mobile homes, town houses and apartmentso an afiect increasingly being feltby lumber and building material dealers.

The truth-inJending law became efiec' tive July 1. lts application, as set forth in regulation Z, was discussed at eaoh of the 14 Western regional meetings held during M"y and June. Several mailings to WBMA members have attemPted to ex' plain how regulation Z applies to the va' rious forms of consumer credit used in our industry.

Here are two questions and answers:

Il a consutner (o, d,o'it-yourselfer) makes seaeral srnall purchases lor the sam.e job (such as a kitchen, etc.) can the creilitor giae the custoner a notice to rescinil only once, or d,oes h'e haae n giue such notice to rescinil on each purchase?

(I) If the several small purchases or de' liveries were all for the same job, the original sales contract should indicate what the customer has purchased and therebv establish all the items covered bv the transaction. In such cases, the noticl of rescision need be given to the custo' mer only once. Neither a contract of sale nor a lien would hold until three full business days had passed after the notice of reecision was given to the customer.

(2) If other property or items are pur-

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(3) Where a customer keeps'coming back for more purchases and the creditor does not relate nor identify these purchases to the original job (such as kitchen), then a right to rescind notice should be given for each purchase where credit is extended. If the amount involved in these purchases was quite high and no right to rescind notice is given, the creditor might find himself in an embarrassing predicament if the customer changed his mind. All these possibilities indicate a growing need for establishing a sound policy before an account is opened.

Il a d,ealer charges "cash and, carry" customers less ,han "cash and deliuery" custonters, woul.d, that bring such transactions umder reguJation Z?

The difierence in price will not bring truth-in-lending into play so long as it is justified solely on the basis of the cost of delivery and is not in any way attributable to the customer's right to defer payment. Therefore, if you can allocate both direct and indirect (overhead) costs to deliveries when determining delivery costs, such pricing (or merchandising action) wouldn't come under regulation Z.