There is no such thing as "No Return, No Exchange" policy

You read it right. Under Philippine laws, there is no such thing as a "No Return, No Exchange" policy.

I'm off to SM Megamall in a while to return or exchange a newly purchased laptop cooling fan. I learned so much about this deceptive policy as I was looking for strong (legal) words to say in case Company X (which I will reveal if they'll give me hard time on this) insists the "No Return, No Exchange" line.