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Consumer protection eassy
The role of government in consumer protection
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A consumer is said to be the king in a free market economy. Consumer is a person who buys the goods and services produced in the market. Earlier approach of caveat emptor, which means “let the buyer beware”. This has now changed to caveat venditor means “let the seller beware”. earlier there is no protection available to the consumers but now companies are given importance to the consumers, taking care of their tastes and preferences and produce according to their needs and wants. With the growing competition and an attempt to increase the market sales, shares manufactures and service providers may engage in unscrupulous, unfair practices. A consumer might be exposed to risks due to unsafe products and suffer from consequences. Sellers sometimes indulge in a higher pricing mechanism, hoarding etc. …show more content…
The act provides protection to consumers from mal-practices of underweight. 6) THE TRADE MARKS ACT, 2002: The act provides protection to consumers against the fraudulent marks on the products sold in markets. THE CONSUMER PROTECTION ACT, 1986 The consumer protection act (CPA) seeks to protect and promote the consumers interest through speedy and inexpensive redressed. The scope of the act is very wide. It is applicable to small and big undertakings, whether private or public sector. These acts give powers to consumer to fight. THESE RIGHTS INCLUDES: 1) RIGHT TO SAFETY: The consumer has right to be protected against goods and services which are hazardous to health and life. The consumers are need to be aware and need to be educated. They should use electrical appliances with ISI mark. This would be assurance to quality. 2) RIGHT TO BE INFORMED: The consumer has right to have complete information about the product they are buying including date, price, quantity etc.It is due to this act the sellers need to specify the rate,date,quantity on the
The chosen article is Two Cheers for Consumerism by James Twitchell. In this article he talks about consumerism, commercialism, and materialism. He argues the stand point of consumers and the role they live by every day. In other hands the critics, Academy, gives the consumers and overview description to their consumers.
This essay will examine key aspects of the recent implementation of the Australian Consumer Law (ACL) 2011, which is the largest overhaul in Consumer Law in Australia in the past twenty five years. The ACL replaces 20 existing State and Territory laws into one national law , the legislation was enacted in two main parts as Schedule 2 of the renamed Trade Practices Act 1974 (Cth) (TPA) - Competition and Consumer Act 2010 (Cth) (CCA) . Aforementioned this essay it will outline the key benefits of the implementation of the act. Furthermore it will critique the Act, whilst exploring the objectives of the legislation.
The Australian Consumer Law (ACL) was established to protect consumers in any legal trading activities in Australia. A set of guarantees has also been introduced for those consumers who are acquiring goods and services from Australian suppliers, importers or manufacturers. The guarantees are intended to ensure that consumers will receive the goods or services they have paid for. If they have problems with the products and services they bought, they are entitled for remedies, such as repair, replacement, and refund.
The role of law reform has responded rather effectively to a certain extent in protecting the rights of consumers. This is evident in the legal responses introduced to address issues of credit, marketing innovation and technology. These law amendments has effectively increase the protection of the rights of consumers to a certain extent, however loopholes still exist. Due to the increasing range of goods and services continues to grow and the failure of existing laws, the role of law reform has been significant in protecting the rights of consumers. Consumer laws were created to prevent deceitful activities, or unfair business practices, as well as serving a protection for weaker parties who are unable to protect themselves. However, laws were later reformed to enable customers to transact with confidence and protect suppliers, consumers from inappropriate business conduct and to reflect changed community values and circumstances.
The current issues at hand are that companies do not do enough to protect its consum...
One of the major unintended impacts of the Dodd-Frank Act has been on credit unions and community banks. These banks weathered the credit crisis and lost only 6% of their share of banking assets between 2006 and mid-2010. A recent Harvard study indicates that this decline accelerated to 12% since the passage of the Dodd-Frank in July 2010. [a] While the community banks’ earnings increased by 12% to $5.3 billion by mid 2015 the number of these banks had declined according to Federal Deposit Insurance Corporation. The number of banks with assets under $1 billion has declined from around 7500 in 2010 to less than 6000 since Dodd-Frank came into effect. [b] Increased compliance costs due hiring of new personnel to interpret the new regulations compelled these banks to cut down on customer service amongst other things. The law hurt them disproportionately and forced them to consolidate. Regulatory economies of scale drive the process of consolidation. A larger bank is often more equipped at handling increased regulatory burdens
Threat of substitutes in market as best quality is not always a priority for some customers as they are price sensitive.
Defined as the consumer recognizes a problem or need. In this case, Porsche customer are portrayed by their desire and affection for challenges but at the same time they are facing a financial advantage that they couldn’t enjoy the most. They tried to look for the differences in their aim included the car they purchase and drive every day. In the end, they make Porsche to be their ideal purchase.
Both the common law and the statutory law have recognized the weaker position of consumers. It is well established an exclusion clause will be valid and enforceable only if it is incorporated in the contract, use clear wordings and does not contravene statutory limits. In order to limit the unfairness resulting from exclusion clauses, the courts have developed certain principles such as the doctrine of non est factum in signature cases, ‘red ink-red hand’ principle in relation to ‘onerous or unusual’ terms, contra proferentem rule when interpreting ambiguous exclusion clauses and ‘fundamental breach’ principle.
...s’ rather than ‘consumers’. We should consume on our own terms and thus learn to define our own desires instead of merely accepting the choice that the market offers us.
The Consumer Product Safety Act states that any company that receives numerous complaints about a products defects must report these claims to the CPSA. According to the CPSA reporting responsibilities belong to manufacturers, importers, distributors and retailers of consumer products. Each is required to notify the Commission if it obtains information which reasonably supports the conclusion that a product fails to comply with a consumer product safety standard or banning regulation. Also if the product contains a defect which could create a substantial product hazard, creates an unreasonable risk of serious injury, or death to the consumer.
Consumer offerings are essential products that are available in the consumers’ market. However, not all these offerings are part of the consumers’ need at a particular time. In this brief piece of writing, readers will understand the consumer offerings that relate to their needs and when. Similarly, readers will learn the difference in these offerings and probably the products the author has patronized with a vivid example. At the end of the paper, readers should feel free to consult the references that aided the writing.
'subject to this Act, when goods are sold by a person who is not their
All around the world there are laws made by municipal, provincial, and federal governments that are made to have a positive impact on its people. If you decide to rob a bank, or decide to hijack a vehicle, there are serious consequences due to the law. These laws positively impact our society by giving our society safety, but do laws such as the Consumer Protection Act, or the Employment Standards Act also give us a positive effect? Both of these acts are made up of many different parts, and I will be going through parts of both acts in this essay.
Thus, consumer protection laws, prohibit unfair or defective acts from being practiced by companies.