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Business (LC) > Chapter 2 - Resolving Conflict In The Marketplace > Flashcards

Chapter 2 - Resolving Conflict In The Marketplace Flashcards

1
Q

What is a contract

A

A legally binding agreement between two or more parties which is enforceable by law

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2
Q

List the seven elements of the contract

A 
Agreement 
intention to contract 
capacity to contract 
consent to contract 
consideration 
legality of purpose 
Legality of form
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3
Q

What is agreement

A

there must be a clear unconditional and complete offer made by one party and accepted by the other party
it’s consists of two parts offer and acceptance

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4
Q

What are the three ways and offer can be made

A

Orally
in writing
by conduct

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5
Q

What is by conduct

A

Consumer giving a newspaper and money to a sales assistant to the shops

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6
Q

What are the four ways to terminate an offer

A

Revoked; the offer is withdrawn before it can be excepted by the other party
rejected; the offer is rejected by the other party
lapse of death; the time limit may be imposed on the offer
death; if the party making all receiving the offer dies

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7
Q

What is invitation to treat

A

When an invitation is given to another person to make an offer the offer can be accepted or rejected and example is one price tags are placed on cars in a dealership

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8
Q

What is intention to contract

A

Irish contract law assumes that all business agreements are intended to be legally binding all social and private agreements I’m not intended to be legally binding

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9
Q

What is capacity to contract

A

All people and businesses have the legal ability to enter into a contract except for the following any person under the age of 18 except for a necessities and people who are mentally incapacitated

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10
Q

What is consent to contract

A

The parties entering into a contract must do so well on Teralee a contract is in valid if the party is putting your physical pressure or threatens to enter into a contract are genuine mistake is made by either party to contract either party is dishonest and gives false information that may encourage you to party to enter into the contract

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11
Q

What is consideration

A

Consideration mean for each party in the contract must give something of value to either party consideration can refer to money or goods exchanged

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12
Q

What is legality of purpose

A

A legally binding contract must be created for illegal purpose for example a valid contract cannot exist to buy illegal fireworks

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13
Q

What is legality of form

A

Contract must be drawn up in the correct legal format that can be done already in writing or by conduct

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14
Q

List the four ways to terminate a contract

A

Performance
agreement
Frustration
breach of contract

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15
Q

What is performance

A

A contract ends by performance when both parties complete their side of the contract exactly as out set in the contract

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16
Q

What is agreement referring to termination of the contract

A

I contract ends by agreement with both parties need to mutually agree to enter the contract even if the purpose of the contract has not been

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17
Q

What does frustration mean

A

A contract ends with an unforeseen event arises that prevents the contract from being completed

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18
Q

What is breach of contract

A

My contract ends on one party breaks their side of the contract if a party breaks a condition of the contract the contract and immediately if a warranty on the contract is broken the contract does not end the party that broke the contract may have to pay compensation to the innocent party

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19
Q

What are the three remedies for breach of contract

A

Compensation
rescind the contract
specific performance

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20
Q

What is compensation

A

The judge could order the party that cause the breach to pay compensation for any losses suffered by the innocent party due to the breach

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21
Q

What is rescind of contracts

A

The judge cancels the contract this returns both parties to the position they were in it before the breach occurred

22
Q

What is specific performance

A

I judge could order the parties are breached the contract to complete their side of the deal

23
Q

What Latin phrase means let the buyer beware

A

Caveat emptor

24
Q

What does caveat emptor mean

A

That consumers should use common sense when they make a purchase

25
Q

Why does conflict sometimes occur between a consumer and the business

A

If poor quality goods or services or misleading advertising is being sold to a consumer

26
Q

What are the three non-legislative methods for resolving conflickt

A

Negotiation
writing a letter of complaint
assistance from a third party

27
Q

Describe negotiation

A

If the consumer isn’t happy with the glitter service that they purchased they should:

  1. return to the retailer with proof of purchase
  2. ask to speak to a manager and date clearly the problem with their purchase
  3. tell the retailer her they would like the problem to be resolved
28
Q

Describe writing a letter of complaint

A

If a consumer is unable to speak to or visit the retailer it would be advisable to send a formal letter of complaint

  1. outline the problem with gods or services
  2. explain how they would like it to be resolved
  3. include copies of any proof of purchase
29
Q

Describe assistance from a third party

A

If negotiation is not successful the consumer can seek assistance from a third party to help resolve the issue with the retail organisations that help consumers include:
consumers Association of Ireland CAI
European consumers centre Ireland (ECC ireland)

30
Q

What are the five legislative ways for consumers to resolve conflict

A

Sale of goods and supply of services act 1980
consumer protection act 2007
competition and consumer protection commission
ombudsman
small claims procedure

31
Q

List the seven consumer legal rights under the act sale of goods and supply of services act 1980

A

Rights of consumers when purchasing a good
rights of consumers when purchasing a service
remedies for breach of the act
retailers responsibility
guarantees
secondhand goods
inertia selling or unsolicited goods

32
Q

Describe the rights of consumers from purchasing a good

A

Goods must be of merchantable quality meaning they should be of an acceptable standard taking into account the price and durability
Goods must be fit for purpose meaning it should do what a consumer reasonably expects them to do
Goods must be as described and match the sample Sean meaning description of the goods must match the packaging the brochure or description given by the salesperson

33
Q

Describe the rights of consumers when purchasing a service

A

The supplier of the service
must be qualified and has the skills needed
will provide the service with proper care and diligence
must use materials that are sound and fit for purpose
must use good as part of the service that are of merchantable quality

34
Q

Describe the remedies for breach is of the act

A

Refund - if there is a fault the consumer is entitled to a full refund of the price paid
repair - if the consumer use the item for some time and then discovered a fault they are entitled to have the item repaired free of charge it should permanently resolve the problem
replacement - if the seller is unable to repair the item they must replace it for the same item or an item of similar quality and price

35
Q

Describe retailers responsibilities

A

If there is a problem with the good or service purchased the seller must resolve the issue
retailer is not allowed to put up signs in the business that gives consumers the impression that they have reduced consumer rights or that their rights are limited such as no refunds, credit note only, goods are not exchanged

36
Q

Describe guarantees

A

Guarantee states of the manufacturer will repair or replace a faulty item within a certain period of time after it has been purchased a guarantee states what goods are covered what time frame involved and the procedure required for making a clean

37
Q

Describe secondhand goods

A

Must be fitter purpose but doesn’t have to be as good a quality as new goods they are sold as seen

38
Q

Inertia selling or unsolicited goods describe

A

This refers to goods that are sent to someone with a demand for payment even though the person did not order the goats it is illegal to demand payment for unsolicited goods

39
Q

What five things are covered under the consumer protection act 2007

A 
Protects consumers from unfair practices:
misleading descriptions 
aggressive practices 
prohibited practices 
price display regulations 
price controls
40
Q

Describe the misleading description

A

Seller should not advertise good and services in a way that deceives consumers

41
Q

Describe aggressive practices

A

Traders cannot harass or coerced consumers into buying a good or service

42
Q

Describe prohibited practices

A

Such as falls claims that a product that can cure littleness or claiming as a business is closing down when this is not the case

43
Q

Describe price display Regulations

A

The Minister for jobs enterprise and innovation has the power to require a price of a certain product must be displayed in a particular manner

44
Q

Describe price controls

A

this act allows the government approved price controls to be introduced in emergency situations

45
Q

Name the five things that the competition consumer protection commission does

A 
Informs consumers of a right 
investigate breaches of consumer rights 
advises the government 
personal financial information and education 
enforce this product safety regulations
46
Q

Describe how the CCPC informs consumers of the rights

A

Operate a website and telephone helpline which gives consumers information about their consumer rights

47
Q

Describe how the CCPC investigate breaches of consumer rights

A

Investigate breaches of consumer legislation such as product safety are misleading advertising

48
Q

Describe how the CCPC advise the government

A

Conducts research to identify areas where consumers need greater protection in the form of the government about the impact of any new laws

49
Q

Describe how the CCPC helps with personal finance information and education

A

Provides financial information and education to consumers through public awareness campaigns

50
Q

Describe how the CCPC in force this product safety regulations

A

Insure is their products and retailers are very relevant product safety regulations they share information about dangerous products across the EU

51
Q

Describe the role of the ombudsman

A

If a consumer cannot resolve a complaint with an organisation they can make a complaint to the relevant ombudsman
the service provided by the ombudsman is free of charge
they must have used the complaints process in the relevant organisation before they can bring a case there are a number ombudsman in Ireland including
the financial services and pensions ombudsman FSPO
the office of the ombudsman

52
Q

Describe the small claims procedure

A

Complaint with the business they can take the case to the small claims procedure at the district court
claims of the value of 2000 Euro can be made for:
faulty goods or
poor quality product

Business (LC) (23 decks)

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