Nobody downloaded yet

Onsumer law - Essay Example

Comments (0) Cite this document
Summary
Consumer Credit Act 1974 is the law regulating the credit agreements between the debtor and creditor. These credit agreements shall be abided by the two principal conditions such as (a) the debtor is neither a company nor a body corporate which means and (b) the ceiling of credit advanced by the debtor shall be between 50 and 15 000…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.5% of users find it useful
Onsumer law
Read TextPreview

Extract of sample "Onsumer law"

Download file to see previous pages If the credit card provider and the bank, which is acting on behalf of the supplier/ Retailer are the same then only the transaction will have effect on only three parties.
Consumer Credit agreements: In Consumer Credit Agreement the creditor provides finance to the debtor for purchase of goods and services and such finance shall be within the specified amount. The credit provided by the creditor to the debtor includes Credit sale and conditional sale such the agreements of bank overdraft and credit card, which are also termed as revolving credit or running account. Under these agreements the debtor purchases the goods and or services from the supplier or wholesaler or retailer etc and the creditor makes the payment for the debtor and such credit the creditor shall fix limit, from time to time. The further classification of these agreements are unrestricted credit agreements and restricted use credit agreements. Bank loans fall in the category of unrestricted credit agreements. ...
Dealer is an Agent of Creditor:

In accordance with Section 56 of the Consumer Credit Agreement a person who makes negotiations of a regulated agreements between the creditor and the debtor is called the agent of creditor, such person includes a dealer in hire-purchase and a retailer who allows the customer to pay through credit card for the goods supplied. This section gives the protection to the consumer by making creditor liable for any breach of contract of sale either due to misrepresentation or due to any reason, and giving liberty to the consumer to sue the creditor for the breach of contract of sale2.


Liability of Creditors in Consumer Credit Agreement:

Section 75 of the Consumer Credit Act 1974 provides that the creditor is liable for the default of the supplier and the debtor has a claim against the creditor similar to that of his claim against the supplier in the Consumer Credit Agreements such as hire-purchase, credit sale and conditional sales. The creditor is jointly and severally liable to the debtor. The consumer who purchases the goods from supplier or wholesaler or a retailer using the credit card has right to claim against credit card issuing company, which provides the credit card to the consumer3.

Therefore the Section 75(1) and Section 56 of the Consumer Credit Act gives the protection to the consumers against the creditor such as the credit card issuing bank for any breach of contract of sale including implied conditions such as fitness and satisfactory quality as explained in the sale of goods act. This section provides to the consumer who makes the payment of the price of goods through the credit card, to claim against the supplier and also the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Onsumer law Essay Example | Topics and Well Written Essays - 3000 words”, n.d.)
Onsumer law Essay Example | Topics and Well Written Essays - 3000 words. Retrieved from https://studentshare.org/miscellaneous/1531842-onsumer-law
(Onsumer Law Essay Example | Topics and Well Written Essays - 3000 Words)
Onsumer Law Essay Example | Topics and Well Written Essays - 3000 Words. https://studentshare.org/miscellaneous/1531842-onsumer-law.
“Onsumer Law Essay Example | Topics and Well Written Essays - 3000 Words”, n.d. https://studentshare.org/miscellaneous/1531842-onsumer-law.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Onsumer law

Law

...? (a) Before the war, A had lent money to Cee Company. B now claims that it is en d to half of that money. B is en d to some amount of that money since at the time the contract was signed it was one country. However the amount of money it will receive is dependent on the location of Cee Company and whether its operations lie in country A, B or somewhere between the two. The motives behind the loan must also be assessed clearly in order to determine the objectives of the transaction. Just like the seceding state is obliged to pay its share of the national debt after the secession, it is also entitled to a fair share of the loan given to Cee Company. However the manner in which such transactions are to be handled often depends on the...
5 Pages(1250 words)Essay

Onsumer behaviour and decision making

...?Consumer Behaviour and Decision Making Introduction Marketing is a concept that has emerged and evolved over years. There will be no other discipline in this universe that is as influenced and affected by the changes in the environment as marketing is. Sometimes, it takes years to observe a change in the marketing pattern. Sometimes, even a small technological leap in the industry can change the marketing pattern very easily. The main reason for this is that marketing deals with the behavior and aspirations of people that are highly influenced by changes in the environment. It is only a few decades back that consumer behavior emerged as a highly specialized area under marketing. “Consumer Behaviour is a branch which deals... Behaviour and...
10 Pages(2500 words)Essay

Law

...? Section 4 Introduction Legal matters in business situations are very common nowadays. They tend to create a formal and commercial dealings between one another of which law is a major part. No business dealing can be made outside the scope of the law and the terms implied by law. In various business situations, negligence can occur because of which the business can be held vicariously liable. There are some principles of liability that are separately applied for the business situations (Harpwood, 2008, 201). Applying negligence and its defenses in different business situations: The elements of negligence are existence of a duty of care, the breach of that duty and reasonable damage...
15 Pages(3750 words)Essay

LAW

...?Essay questions I believe that in this case, the Court should rule in favour of Elin and reject Grapes & Vines Winery’s action. The contract concluded between the parties specified a deadline for performing the contractual obligations. It stated that the wine was to be delivered on or before May 1. Therefore, Grapes & Vines Winery could have delivered the wine anytime before May 1, as the contract did not limit their duty to perform only on May 1. However, they chose to do it in the last possible day – May 1. The fact that the delivery van was involved in an accident does not constitute an objective impediment to performing the contract (destruction of the subject matter of the contract cannot be used as an excuse in this case... questions I ...
1 Pages(250 words)Essay

Law

...., is primarily liable because under the agency law, the principal is liable for all the acts of the agent which are within the authority usually confided to an agent of that character, notwithstanding limitations, as between the principal and the agent, put upon that authority. The driver was acting within the authority confided to him by the principal when the accident happened. 6. Answer: As an independent contractor, the driver of the truck is primarily liable because the employer has no control how the work is done provided the result was delivered to him. 7. Answer. a. the plaintiffs can collect the entire judgment from either defendant 8. Answer: Punitive damages are in order in this case for this is a tort case of...
7 Pages(1750 words)Assignment

LAW

...Messrs Soil can prevent the Tom brothers and Salisbury’s from marketing their bags in by using the common law. They have been using the markfor a year and in fact have been successful in marketing the same in their trade. Being the first to manufacture and put into commercial circulation the tompot bag, they a have acquired trademark rights on it. Trademarks and service marks are words, names, symbols, or devices used by manufacturers of goods and providers of services to identify their goods and services, and to distinguish their goods and services from goods manufactured and sold by others (Radcliffe and Brinson, n.d.). Trademarks could be any combination of words, names or symbols that are used in commerce as brand...
7 Pages(1750 words)Essay

Law

...committed in a gravious manner if an individual or group cause severe injury to the others or the individual or group causes severe injury using a fatal weapon or deadly weapon (Chambliss 2011). Throughout, the law treated the threat of physical injury as assault while battery was considered the complete contact to cause harm. This version of the distinction is no longer valid as compared to the physical contact hence null and void. For Hilder to be taken to the hospital after being hit by the husband with a chair leg by the husband Billy is a clear example of Assault or battery to mention. The act is worsened when Billy further exposes their violent acts to the public through putting a slap on the face of the nurse,...
8 Pages(2000 words)Essay

Company Law - English law

...(a) It was established in Salomon v A Salomon & Co [1897 that 'The company is at law a different person altogether from the subscribers. Nor aresubscribers as members liable, in any shape or form, except to the extent and in the manner provided by the [Companies] Act.'2 It is a general principle of English law that it is not possible in the absence of agency, a trust relationship or wrongful trading to hold one person liable for the debts of another.3 However, like most common law principles and judicial interpretations it is a rebuttable presumption which must give way to a statement to the contrary 'in clear and unequivocal language'4 by Parliament. Under its equitable discretion the...
10 Pages(2500 words)Case Study

Law

...TABLE OF CONTENTS SL. NO. Page No Introduction 2-3 1 International Petroleum Agreements 3-4 2 IPAs and Environmental Pollution 4-5 2 ExxonMobil Corp. Violates The Clean Air Act 5-6 2.1 Shell Group to Install Anti – Pollution Equipment 6-7 3 Observations 7-8 3.1 Oil Sector of Libya and Environmental Laws 9 3.2 BP Deploys Oil Spill Minimization System 10 4 Oil Spill is a Worldwide Issue 11-12 5 Conclusion 12-13 Sources 14 INTERNATIONAL PETROLEUM AGREEMENTS and the Environmental Clause 1. Introduction Since times immemorial human beings have been relentlessly finding ways of obtaining various resources from nature that not just address their vital needs, but also promise financial prosperity. These activities of mankind...
10 Pages(2500 words)Research Paper

SCOTS LAW - commercial law

...Scots Law - Commercial Law al Affiliation) Scots Law - Commercial Law: Might the regime governing a buyer’s remedies for defective goods be improved? Scots law is the jurisprudence of the inhabitant of Scotland. Scotland though is part of the United Kingdom; its legal system is autonomous. It has its own laws with courts. The law of Scotland originates from a large number of sources; laws in Scotland are totally different from those of other parts of the United Kingdom. The varied sources from which this law originates include; Legal principles and the Roman law Scots...
5 Pages(1250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Onsumer law for FREE!

Contact Us