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CHAPTER 14 Consumer Protection

CHAPTER 14 Consumer Protection. 14-1 Protection through Governmental Action 14-2 Protection through Action by the Consumer. 14-1 Protection through Governmental Action. GOALS Explain the need for governmental involvement in the marketplace Identify protections against substandard goods

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CHAPTER 14 Consumer Protection

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  1. CHAPTER 14Consumer Protection 14-1 Protection through Governmental Action 14-2 Protection through Action by the Consumer

  2. 14-1 Protection through Governmental Action GOALS • Explain the need for governmental involvement in the marketplace • Identify protections against substandard goods • Recognize unfair trade practices Chapter 14

  3. FOCUS • Who is a consumer? Chapter 14

  4. GOVERNMENTAL PROTECTION IN TODAY’S MARKETPLACE • Consumer caveats • Class actions • Governmental procedure Chapter 14

  5. Define the terms caveat emptor and caveat venditor. Chapter 14

  6. PROTECTION AGAINST INFERIOR SERVICES AND GOODS • Licensing • Unsafe products • Adulterated food, drugs, and cosmetics • Improper weights and measures Chapter 14

  7. What commission sets safety standards for most consumer products? Chapter 14

  8. PROTECTION AGAINST UNFAIR TRADE PRACTICES • Agreements to control or fix prices • False and misleading advertising • Illegal lotteries and confidence games • Unfair pricing and service • Mislabeled goods • Other unfair trade practices Chapter 14

  9. List at least six forms of unfair trade practices. Chapter 14

  10. 14-2 Protection through Action by the Consumer GOALS • Describe the protection afforded consumers by the law of product liability • Identify the various warranties that may apply to a sales transaction Chapter 14

  11. FOCUS • What legal action can the individual consumer take to protect herself or himself? Chapter 14

  12. WHAT IS PRODUCT LIABILITY? • Expansion of product liability • Privity of contract • Recovering damages Chapter 14

  13. Under what product liability approach is a person injured by a defective product most likely to recover damages? Chapter 14

  14. HOW IMPORTANT ARE WARRANTIES? • Requirements of express warranties • Opinions v. warranties • Express warranties made by all sellers • Implied warranties given by all sellers • Warranty of title • Warranty against encumbrances • Warranty of fitness for a particular purpose Chapter 14

  15. HOW IMPORTANT ARE WARRANTIES? (continued) • Implied warranties given only by merchants • Warranty against infringement • Warranty of merchantability • Exclusion of warranties • Lemon laws Chapter 14

  16. Distinguish express and implied warranties. Chapter 14

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